DPM – Moderate recovery in FY20F – Update
- 4QFY19 revenue declined by 1.6% yoy; net profit surged by 57.2% yoy as 4Q19 gas input price slumped by 25% yoy, based on our estimates.
- FY19 revenue and net profit fell by 17.4% yoy and 46.0% yoy, respectively, to come in at 100.9% and 145.8% of our full-year forecasts.
- Reiterate Add, with an unchanged target price of VND15.8k.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND11,750
|
VND15,800
|
8.5%
|
ADD
|
PETROCHEMICAL
|
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