GAS – Weak oil price casts a shadow on 3Q results – Update
- GAS’s 3Q19 net profit fell 9.9% yoy due to lower gas selling price (average FO price declined 14.3% yoy) and an 8.0% yoy rise in operating costs.
- 9M19 net profit was fairly in line with our expectation at VND8,933bn (+0.6% yoy), accounting for 80.3% of our full-year forecast.
- We maintain our Hold rating with a TP of VND105,700.
|
Market Price
|
Target Price
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Dividend Yield
|
Rating
|
Sector
|
|
VND102,200
|
VND105,700
|
5.63%
|
HOLD
|
OIL & GAS
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