MSH – Long-term buy on short-term weakness – Update
Company Note 19/02/2020 307
- Solid FY19F net profit growth on the back of product mix improvement.
- Short-term challenge from Covid-19 outbreak.
- We lowered our FY20F revenue and NP forecast by 6.8% and 19.8%, respectively.
- MSH is trading at 4.5x FY20F P/E, the lowest in one year. We believe this is an opportunity to buy a long-term play with attractive dividend yield at cheap valuation.
- Total reliance on imported fabric and risk of losing foreign clients due to competition will be the disadvantages for MSH.
Market Price |
Target Price |
Dividend Yield |
Rating |
Sector |
VND42,550 |
VND51,600 |
8.2% |
ADD |
TEXTILE |
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