POW – Brighter prospects from FY21F onwards – Update
- 1H20 revenue fell 14.4% yoy to VND15,684bn, following a 5.4% yoy drop in sales volume and 9.5% yoy decline in electricity selling prices.
- We revise down our FY20-21F EPS forecasts by 3.6-17.9% while raise FY22F EPS by 1.0%.
Reiterate Add with a lower target price of VND13,600.
|
Market Price
|
Target Price
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Dividend Yield
|
Rating
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Sector
|
|
VND9,940
|
VND13,600
|
0%
|
ADD
|
POWER
|
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