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DBC – Stellar performance in 1Q20 – Update

Company Note 08/05/2020    152

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  • 1Q20 net profit remarkably grew 1,638.6% to VND349bn, forming 56.9% of our previous forecast.
  • We believe the business of DBC should be less sensitive to Covid-19 pandemic and outperform other peers’ earnings growth in FY20F.
  • Reiterate ADD with higher TP of VND35,500.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND27,800

VND35,500

1.79%

ADD

CONSUMER GOODS

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