[BSR/BUY/TP: VND 19,300] - A pioneer in the petrochemical industry
15/03/2023

Summary

Binh Son Refining and Petrochemical Company Limited (BSR) is one of the only two refineries in Vietnam, serves around one-third of the domestic market. We value BSR for the first time at 19,300 VND, equivalent to a 22.1% return. In 2023, BSR's growth engine comes from the stability of diesel crack and the moving share to HOSE. In the long-term, we believe the expansion in petrochemicals and Dung Quat’s Refinery Expansion and Upgrading project to be key growth drivers. 

Company
BSR-Binh Son Refining and Petrochemical
Category
Initiation
Author
Thao Nguyen
Details

Page: 15

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File format: pdf

Size: 1.06 MB