PVS – Challenging times ahead – Initiation
- We believe PetroVietnam Technical Services (PVS) could be a key beneficiary of Vietnam’s push for renewed dry gas reserves.
- We expect it to deliver strong earnings growth (net profit CAGR of 25.4%) in FY18-21F.
- Initiate coverage with Add and target price of VND25,000.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND20,600
|
VND25,000
|
6.03%
|
ADD
|
OIL & GAS
|
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