From January 19, 2024, the Research Center will be moved to Vietcap IQ
toggle icon
logo text
logo symbol
toggle icon

POW [BUY +41.4%] - Electricity shortage brightens outlook of giant producer - Update

Company Research

15 May 2018

We reiterate our BUY rating with a total return of 41.4%. We maintain our target price as higher earnings from faster fully-depreciated assets as well as a stronger demand outlook offset the postponement of Nhon Trach 3 and 4 gas-fired power plants. We raise our 2018F recurring earnings growth from 12.9% to 17.1% as we expect a lower depreciation from the Ca Mau gas-fired power plant (CMPP).
Tags: POW

Contact us for a research access: (+84) 2 8888 2 6868