We attended the AGM of Petrolimex Petrochemical Corp (HNX: PLC) today. Our view on PLC’s medium-term prospects remains positive on the back of infrastructure spending picking up in later years despite a slowdown in the short-term. Our target price for PLC, therefore, remains intact at VND34,300 per share. However, we downgrade our recommendation from BUY to OUTPERFORM due to the rise in its share price since we put out our last update report.