KDH – A lacklustre start to the year – Update
- 1Q19 earnings were flat to make up 12.1% of our full-year forecast, below expectations.
- Two new projects will be launched for sale this year, which will propel FY19F presales up by 73.2% yoy, in our view.
- Maintain Hold with unchanged RNAV-based TP of VND33,500.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND29,700
|
VND33,500
|
2.08%
|
HOLD
|
PROPERTY DEVT & INVT
|
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