Company Insight

Gia Lai Electricity JSC (HoSE: GEG) operates in the generation and supply of electricity from renewable energy sources such as hydropower, wind power, and solar power. The company has strategic plans and directions to expand its business in alignment with the government's renewable energy development trend in the future. Based on the SOTP and EV/EBITDA methods, we issue a BUY recommendation for GEG with a target price of VND 18,300 per share. GEG's revenue and profit are expected to grow strongly in the coming period thanks to: (1) Benefiting from the renewable energy development orientation aligned with the revised Power Development Plan VIII; (2) Owning a portfolio of power plants with solid competitive advantages; (3) Having a promising renewable energy development pipeline.