PNJ – Earnings Update – 20180124
- PNJ’s NPAT grew at an impressive clip in 2017, but undershot our forecast as a result of the sharp increase in SG&A costs. However, the stock price rose to almost touch our target price, reflecting the bright outlook for 2018.
- We maintain our target price and HOLD recommendation for now.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND143,000
|
VND143,700
|
1.28%
|
HOLD
|
CONSUMER GOODS
|
Please follow this link for the full report
You Might Be Interested
Company Note
5
1Q24 pre-tax profit (PBT) soared 53% YoY to VND943bn (USD37mn). Thus, ROAE increased 1.4% YoY pts to 4.3%. 1Q24 TOI and net profit completed 24%/26% of our full-year forecasts, respectively. We see no pressure on our target price of VND36,500.…
Company Note
104
MWG plans for FY24 revenue and net profit of VND125tn/VND2.4tn, respectively, increases of 6% yoy and 14 times compared to FY23. According to management, BHX will begin to record profit in 1Q24 and targets to reach net profit of VND1tn-VND2tn…
Company Note
70
We maintain our Hold rating with 11.9% upside and a 0.0% dividend yield. We increase our TP by 11.0% while the stock price has increased 5.6% since our last report. The main drivers of our recommendation are the decline in…