Nhon Trach 2 Petroleum PowerJSC (HoSE: NT2) is one of the gas-fired thermal power enterprises with the largest installed capacity on the stock exchange. Currently, NT2 is trading at an attractive valuation with solid growth potential. Based on the FCFF and PE methods, we recommend buying NT2 at a valuation of VND 32,950. We believe the revenue and net profit of NT2 will grow strongly thanks to recovery after Covid-19 with outstanding operating efficiency and high selling prices. In 2023, when the adverse weather passes and debt obligations have been completed, NT2 will robust cash dividends to shareholders.
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