DBC – Signs of hog price recovery – Update
Company Note 04/06/2018 339
- Rising hog prices boosted the gross margin of DBC’s husbandry segment in 1Q18.
- DBC may benefit from the hog price recovery in Vietnam more than its listed local peers because of the higher contribution of hog-related segments to its net revenue.
- Possible impact of China’s low hog price environment on Vietnam’s hog market is unclear.
- 2018F management guidance does not factor in potential profits from its real estate and construction segment.
Market Price |
Target Price |
Dividend Yield |
Rating |
Sector |
VND22,000 |
N/A |
0.1% |
N/A |
FOOD & BEVERAGES |
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