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
|
Please follow this link for the full report
You Might Be Interested
Company Note
34
VCB set FY22F guidance of 15% yoy in credit growth and VND30,675bn (+12% yoy) in pre-tax profit. We forecast higher-than-guidance pre-tax profit growth of 21% yoy over FY22-23F, following lower provisioning expenses. Reiterate Add rating with a higher TP of…
Company Note
52
For 4M22, MWG posted revenue of VND47,908bn (+34% yoy) and net profit of VND1,891bn (+8% yoy), fulfilling 28% our full year forecast. We expect BHX’s store sales to grow strongly in 2H22F, at 30% vs 1H22F after all BHX stores…
Company Note
30
We lowered FY22-24F EPS by 6.7%-13.3% on higher input material prices. Current valuation (5.4x P/E 2022) is cheap but lacking near-term catalyst. Reiterate Add with a lower TP of VND57,800. Market Price Target Price Dividend Yield Rating Sector VND34,000 VND57,800…
VI
EN
JA
ZH
