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PVS – Weak oil price already priced in – Update

Company Note 16/04/2020    162

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  • We reduce our FY20-21F net profit forecasts by 33-43% to reflect the lower oil prices which could affect the demand for oil and gas support services.
  • A resilient mechanics & construction (M&C) segment could provide some earnings support for PVS in the medium term. Reiterate Add.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND11,800

VND16,500

5.93%

ADD

OIL & GAS

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