Quang Ninh Thermal Power JSC (UPCOM: QTP) is one of the largest enterprises operating in the thermal power sector listed on the stock exchange. QTP is trading at an attractive price range and has an abundant potential cash dividend. Based on the FCFF and PE methods, we recommend buy QTP at a valuation of VND 18,200. The revenue and NPAT of QTP will increase in the future thank to (1) Quang Ninh 1&2 power plant operating sustainable and the mobilization rate maintained at a high level; (2) The unfavorable weather is forecasted to pass away and the full market price is expected to maintain at the current price; (3) Strong financial health and an abundant potential cash dividend.
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