GAS – Dimmer outlook due to weak oil price – Update
- FY19 net profit beat our forecast by 7.4% due to higher-than-expected interest income and lower interest expense.
- We lower our FY20-21F EPS by 17.0-2.6% as we cut our base-case oil price assumption to US$62-65/bbl.
- Reiterate Hold with a lower target price of VND95,700.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND86,000
|
VND95,700
|
4.65%
|
HOLD
|
OIL & GAS
|
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