Give us your feedback

ACB – 1Q20 results: good performance amid challenges – Update

Company Note 30/04/2020    194

Share

  • 1Q20 earnings grew 12.5% yoy to VND1,537bn, below our previous full-year FY20F growth forecast of 22.4%.
  • We cut FY20-22F EPS by 7.0-9.6% due to lower loan growth and lower net interest margin (NIM) forecasts from the impact of the Covid-19 outbreak.
  • Reiterate Add but with a lower TP to VND28,500 after we cut our EPS forecasts and raise the risk premium.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND20,500

VND28,500

2.44%

ADD

BANKS

Please follow this link for the full report

DMCA.com Protection Status