PGS - Commendable Growth in LPG Segment
​With the orientation to focus more on LPG products to make a firm base of PGS’s business, there will be continuous expansion and improvement in business efficiency for this segment. Its CNG segment will experience the modest performance due to the control of GAS in term of input prices. RongViet Research forecasted revenue and PAT of PGS for 2017 to be VND 6,780 bil (+36.4% YoY) and VND 124 bil, respectively. Fair price for PGS is projected to be VND 21,700/share. Therefore, our recommendation is ACCUMULATE for this stock in INTERMEDIATE.â€
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