PNJ – Earnings Update – 20180124
- PNJ’s NPAT grew at an impressive clip in 2017, but undershot our forecast as a result of the sharp increase in SG&A costs. However, the stock price rose to almost touch our target price, reflecting the bright outlook for 2018.
- We maintain our target price and HOLD recommendation for now.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND143,000
|
VND143,700
|
1.28%
|
HOLD
|
CONSUMER GOODS
|
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