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CRE – Secondary property investment to drive earnings growth – Initiation

Company Note 05/08/2020    131

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  • Century Land JSC (CRE) is the leading property broker, with a 42% market share, in Vietnam’s Northern region
  • We expect CRE’s FY20-21F net profit to be boosted by secondary property investment and distribution of Vinhomes housing products.
  • We initiate coverage on CRE with Add rating and TP of VND22,000.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND19,100

VND22,000

4.5%

ADD

REAL ESTATE

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