DPM – Update – 20180316
- We believe that 2018 could mark the trough in DPM’s current business cycle as profits from the NPK-NH3 revamping project can only be realized after 2018. We reiterate our HOLD recommendation but reduce our target price on the basis of higher oil price assumption and lower ASPs of self-produced NPK than previously forecasted.
|
Market Price
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Target Price
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Dividend Yield
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Rating
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Sector
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VND23,200
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VND23,000
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4.3%
|
HOLD
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BASIC MATERIALS
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