Analyst Pin-board PPC – Decreasing profit is within expectations
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In our recent PPC result update, we thought that PPC’s NPAT might have peaked in 2019 because of many favorable events. Those advantages are not likely to continue in 2020. Indeed, 1H2020 NPAT went down by nearly 30% YoY, which was in line with our expectations. Therefore, we maintain our neutral view on PPC and the target price of VND 22,500 means no upside for the stock at the moment. |
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