PC1 – High earnings visibility for FY20-21F – Update
- 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.
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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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VND17,550
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VND26,100
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0.0%
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ADD
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INDUSTRIALS
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