We maintain our target price and BUY recommendation for PVT with a total return of 26.7%. We lift our 2018F earnings by 16.1% due to a day rate hike by FSO Dai Hung and profit from liquidating the Hercules crude tanker. 2018 reported EPS is projected to rise 23.2% YoY. 2018 recurring EPS is expected to grow 14.4% YoY thanks to initial crude transport volume from Nghi Son refinery in Q3 2018, higher profit from the floating oil storage segment thanks to higher day rate of FSO Dai Hung Queen