DPM [MARKET PERFORM +3.3%] - Cost-cutting efforts to cope with higher future gas costs - Update
  • 21 Aug 2020
  • Company Research
We trim our target price by ~3% as we cut 2021-2024F earnings by ~5.5% on average, which is mainly due to higher gas costs following the increase in our projected gas transportation tariff while maintaining 2020F earnings. Meanwhile, we downgrade DPM from