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PC1 – High earnings visibility for FY20-21F – Update

Company Note 30/08/2019    137

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  • Grid erection and installation segment recovered as expected, partly offsetting the slump of real estate segment.
  • New hydropower projects bolster future earnings growth.
  • Three new property projects ensure a steady contribution to PC1’s earnings in FY20-22F.
  • Recovery in earnings in FY20-21F.
  • Maintain Add with higher target price of VND26,100/share.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND17,550

VND26,100

0.0%

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INDUSTRIALS

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