GAS – FY19F prelim earnings beat target by 46% – Update
- FY19F preliminary pre-tax profit was VND13,945bn, making up 146.1% of the company’s target and 97.3% of our full-year forecast.
- GAS’s FY20F guidance is conservative given cautious oil price assumptions.
- Maintain Hold and TP of VND105,700, based on an equal weighting of DCF and target P/E of 18x on average FY19-20F EPS.
|
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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VND95,800
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VND105,700
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5.63%
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HOLD
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OIL & GAS
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