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GAS – 1Q20 results: No major surprises – Earnings Flash

Company Note 23/04/2020    180

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  • GAS reported 1Q20 net profit of VND2,333bn (-23.0% yoy), in line at 33.6% of our full-year forecast.
  • We think 2Q20F would be severely hit by the oil price decline, assuming oil prices bottom in 2Q20F and recover in 2H20F.
  • Reiterate Hold and TP of VND61,800.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND63,500

VND61,800

4.23%

HOLD

OIL & GAS

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