KDH – Potential growth has been largely priced in – Update
- While 9M19 net profit made up just 55.4% of our FY19F number, we expect a huge delivery in 4Q19F to help the company meet our full-year forecast.
- FY19F presales are also expected to be on track, thanks to the launches of the Venita and Lovera Vista projects in 2H19F.
- We downgrade from Add to Hold as the positives appear to be priced in.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND26,300
|
VND28,300
|
1.90%
|
HOLD
|
PROPERTY DEVT & INVT
|
Please follow this link for the full report
You Might Be Interested
Company Note
6
Jack-up utilisation rate and day rates are improving but have yet fully covered for drilling fixed costs, which led to net loss of VND56.2bn in 1Q22. We believe in stronger recovery in quarters ahead as current strong oil price environment…
Company Note
14
VRE’s 1Q22 revenue and net profit fell 39% yoy/52% yoy to VND1,369bn/ VND377bn, in line with our forecast. We expect a strong recovery in a couple of next quarters to bring VRE’s earnings to surge 95.5%/64.6% yoy over FY22F/23F, respectively.…
Company Note
12
Charm Villas project is the key driver for net profit growth during FY22-23F. We expect power segment to deliver 38.4% yoy growth in FY22F revenue with full-year operation of three renewable power plants. We reiterate our Add call with a…
VI
EN
JA
ZH
