Company Insight

Update recommendation to BUY, target price of 15,300 VND

POW is a power generation company with a total installed capacity of 4,225 MW from various sources, including coal-fired, hydroelectric, and gas-fired power. Notably, POW owns Vietnam's first liquefied natural gas (LNG) power plant —Nhon Trach 3 & 4—which is expected to officially commence operations in 2025. Based on the DCF and EV/EBITDA valuation methods, we update our target price for POW at VND 15,300 per share.