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MSH – Solid 1H performance, bright outlook despite trade war tension – Update

Company Note 16/08/2019    144

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  • A shift of production method toward major FOB customers boosted 1H19 performance.
  • MSH’s exports business grew healthily despite U.S.-China trade tensions.
  • We raise our FY19F revenue and NP forecast by 5.2% and 6.6%, respectively.
  • Maintain Hold rating but raise target price to VND66,600.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND61,000

VND66,600

6.0%

HOLD

TEXTILES

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