Company Note: PGAS 3Q18 gas distribution volume was probably strong

Home » Stock » Company Note: PGAS 3Q18 gas distribution volume was probably strong
October 10, 2018 Stock No Comments

We think gas distribution volume was likely strong in 3Q18 but should normalise in 4Q18. We now expect FY18F average volume of 839mmscfd. 

We raise our FY18-20F core EPS forecasts by 2.1-5.2% due to higher average oil price and gas distribution volume estimates. 

Maintain Hold. We raise our DCF-based target price to Rp2,250 (WACC: 9.6%, LTG: 0%).

Trendspotter-10October18

Leave a Reply