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PVD – Contract win partly priced in – Update

Company Note 02/10/2019    162

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  • PVD recently announced it has signed the contract for the long-awaited project in Brunei for a period of six years plus two 2-year extension options.
  • We raise our FY20-21F EPS forecasts by 3-21% to reflect this new contract award.
  • Maintain Hold with a higher target price of VND19,600.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND17,400

VND19,600

0.0%

HOLD

OIL & GAS

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