PVS – Weak oil price already priced in – Update
- 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.
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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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VND11,800
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VND16,500
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5.93%
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ADD
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OIL & GAS
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