POW [BUY +66.8%] - Higher contracted volume to offset NT1's volume plunge - Update
  • 25 Feb 2020
  • Company Research
We maintain a BUY rating and target price of VND16,300/share as we assume the positive impact of higher contracted volume will offset the negative impact of a plunge in volume at Nhon Trach 1 (NT1). We cut 2020F adjusted NPAT-MI by 2.4% based on our assum