ACV – Update – 20180514
- In 1Q2018, ACV’s revenue rose by 10.0% yoy while gross profit rose by a spectacular 55.5% yoy thanks to lower depreciation and maintenance expenses compared to 1Q2017. At ACV’s AGM at the end of April, management guided for 2018 passenger traffic growth of 8% which is highly achievable in our opinion.
- We maintain our TP and reiterate our ADD rating for the stock.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND89,500
|
VND106,000
|
0.65%
|
ADD
|
INDUSTRIALS
|
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