DPM [M-PF +9.0%] - Lower input price, new NPK plant to bolster 2019 earnings - Update
  • 14 Feb 2019
  • Company Research
We raise our target price by 5.3% due to a rollover EPS from Dec. 2018 to Dec. 2019 and a slightly higher target P/E, despite trimming 2019F earnings by 6.2% following a higher-than-expected input gas price (46% fuel oil price) in Q4 2018. However, we dow