External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

PetroVietnam Power NhonTrach 2 / Equity Bottom-Up

<ul><li>We expect the current market price to fully reflect the 1Q adverse outcomes.</li><li>We maintain our target price at VND25,278 and recommend Trading Buy for NT2 thanks to the anticipation of bottoming out earnings in the upcoming quarters.</li><li>In 3M24, NT2 generated a total electricity output of 151.7mn kWh, with a contracted output (Qc) of 1.3mn kWh, compared to 1,074mn kWh and 1,040mn kWh respectively in 1Q23.</li></ul><div class="content-highlight"><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></div>

We expect the current market price to fully reflect the 1Q adverse outcomes.We maintain our target price at VND25,278 and recommend Trading Buy for NT2 thanks to the anticipation of bottoming out earnings in the upcoming quarters.In 3M24, NT2 generated a total electricity output of 151.7mn kWh, with a contracted output (Qc) of 1.3mn kWh, compared to 1,074mn kWh and 1,040mn kWh respectively in 1Q23.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.

PetroVietnam Power Nhon Trach 2 JSC - Bottoming Out Expectation on Upcoming Earnings