Analyst Pin-board PVS - 2020 is the highlight for M&C bookings but will be lower in 2021
Despite being the upstream leader, less M&C projects in 2021 will prevent PVS from growing. Besides, although cash per share is higher than the market price, the cash dividend policy will be stable with VND700 – VND1,000 per share. As a result, we do not see any significant catalysts for the share price in the future and recommend to ACCUMULATE with a target price of VND13,800. Plus VND1,000 cash dividend, the total expected return is 19.6%, compared to the closing price in July 13, 2020.
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