NVL [UNDERPERFORM -17.5%] - Aqua City and NovaWorld fuel pre-sales outlook - Update
  • 2021-06-01T20:53:47
  • Company Research
We raise our target price for NVL by 49% to VND112,000/share as we factor in Aqua City Phoenix and new development phases at NovaWorld Phan Thiet following the company’s recent announcement regarding the consolidation plan and launch progress. However, we downgrade our rating from MARKET PERFORM to UNDERPERFORM as the stock price has rallied more than 65% in the last three months.