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DBC – Robust earnings growth in FY20F on pork price spike- Initiation

Company Note 06/12/2019    246

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  • It’s the golden time for clean meat producers in Vietnam.
  • Pork production capacity expansion will prompt DBC’s revenue to grow 23.7% yoy in FY20F.
  • Robust earnings growth ahead, on the back of margin expansion.
  • Initiate coverage with ADD and TP of VND30,700.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND24,200

VND30,700

2.1%

ADD

CONSUMER GOODS

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