STK – Resilient 1Q results, robust 2019 outlook – Update
- Flattish revenue growth but improving product mix.
- Srong 1Q19 bottom line growth thanks to lower operating expense.
- We raise our FY19F net profit by 5.2% regarding improving gross margin.
- Ambitious expansion plan to make STK the largest synthetic fiber manufacturer in Vietnam from FY22F.
- We reiterate ADD rating with higher target price.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
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VND22,100
|
VND25,200
|
6.8%
|
ADD
|
TEXTILES
|
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