KDH – Weathering the gloomy property market – Update
- We raise our FY20/21F earnings by 3.7%/11.2% to reflect high take-up rates.
- We expect a 63.9% increase KDH’s presales in 2H20F, thanks to the potential launch of Armena project in late-4Q20F.
- Upgrade to Add from Hold with a higher TP of VND29,100.
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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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VND24,250
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VND29,100
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2.06%
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ADD
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PROPERTY DEVT & INVT
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