GMD – Short-term headwinds but still a long-term play – Update
- 4Q19 net profit plunged 58% yoy to VND66bn. FY19 net profit was 11.7% short of our forecast.
- We project modest NP growth in FY20F before a stronger rebound in FY21F.
- Reiterate Add with an unchanged TP of VND29,500.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND20,450
|
VND29,500
|
0%
|
ADD
|
LOGISTICS
|
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