External broker reports(aggregated public sources), Vietcap

Vietcap

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Under our base case analysis, we lower our target price (TP) for GAS by 5% to VND93,600/share but upgrade our rating to BUY from MARKET PERFORM as the share price has fallen 25% over the past three months.</li><li>In our high case analysis scenario, the fair value is VND98,400/share (p. 5).</li><li>Our lower TP is mainly due to (1) 7% lower P/E multiple valuation (driven by our 7% lower projected 2026F NPAT-MI), and (2) 2% lower DCF valuation. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Under our base case analysis, we lower our target price (TP) for GAS by 5% to VND93,600/share but upgrade our rating to BUY from MARKET PERFORM as the share price has fallen 25% over the past three months.In our high case analysis scenario, the fair value is VND98,400/share (p. 5).Our lower TP is mainly due to (1) 7% lower P/E multiple valuation (driven by our 7% lower projected 2026F NPAT-MI), and (2) 2% lower DCF valuation. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GAS [BUY +22.6%] - Rising Volumes, FO Prices to Fuel 2026F NPAT Growth

Petrovietnam Gas

GAS [BUY +22.6%] - Rising Volumes, FO Prices to Fuel 2026F NPAT Growth