VJC – Eye on aircraft delivery timeline – Update
- VJC reported unexciting 1H19 results due in part to delayed aircraft delivery.
- Core business growth cooled down due to slow fleet expansion.
- We believe the slow fleet expansion cannot be resolved in near term.
- We expect an improvement in 2H19F and a brighter outlook in FY20F.
- Reiterate HOLD with TP of VND142,200/share.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND137,600
|
VND142,200
|
2.2%
|
HOLD
|
AVIATION
|
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