POW [BUY +24.5%] - All eyes on Ca Mau PPA review - Update
  • 2020-08-18T20:45:13
  • Company Research
We lower our target price by 2% but maintain a BUY rating. We view POW as a compelling play on Vietnam’s forecast electricity shortage due to its sizable and high-quality power portfolio. It is also a benificiary of Vietnam’s conversion to imported liquified natural gas (LNG), which fuels POW’s capacity expansion plans via the Nhon Trach 3 and 4 LNG-fired power plants.