GMD – Short-term headwinds but still a long-term play – Update
- 4Q19 net profit plunged 58% yoy to VND66bn. FY19 net profit was 11.7% short of our forecast.
- We project modest NP growth in FY20F before a stronger rebound in FY21F.
- Reiterate Add with an unchanged TP of VND29,500.
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Market Price
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Target Price
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Dividend Yield
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Rating
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Sector
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VND20,450
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VND29,500
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0%
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ADD
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LOGISTICS
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