POW [OUTPERFORM +11.3%] - Ca Mau revised PPA completion helps re-rating - Update
  • 2022-02-07T00:00:00
  • Company Research

We raise our target price (TP) by 15% to VND18,500/share but downgrade our rating from BUY to OUTPERFORM. We see POW as a solid long-term play on Vietnam’s structural transition to LNG-fired power with the upcoming Nhon Trach 3 & 4 projects.

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