PVD [BUY +26.6%] - Aggressive Rig Expansion, Robust Domestic E&P Fuel Growth
Our higher TP is driven by our 9% higher aggregate 2025–29F core NPAT-MI forecast (with respective changes of +9%/+7%/+12%/+10%/+9%)...
127 Views
PVD - Contribution from new rig expected to drive earnings growth
Using a combination of 50:50 discounted cash flow and EV/EBITDA comparison methods, we determine the fair value of PVD shares over the next year to...
246 Views
PVD [OUTPERFORM +10.4%] - Scaling up with Additional Jack-Up Rigs Amid Market Recovery - Update
We raise our target price (TP) for PVD by 18% to VND24,900/share and maintain our OUTPERFORM rating. The higher TP is driven by our 10% higher...
141 Views
Oil & Gas Sector - Lowering 2024F Oil Price, Raising 2025F Forecast
We lower our average 2024F Brent oil price assumption by 3.6% to USD80/bbl. YTD to October 3, the average Brent oil price was USD82/bbl, slightly...
328 Views
PVD [OUTPERFORM +11.4%] - Lowering forecasts on slower domestic E&P spending - Update
We lower our target price (TP) for PVD by 14% to VND30,800/share but maintain our OUTPERFORM rating as PVD’s share price has declined 15% over the...
293 Views