HPG – Weak 1Q19 results amid rising iron ore price – Update
- VCB reported 1Q19 pre-tax profit of VND5.8tr (+34.9% yoy); this account for 29% our full-year forecast.
- Targets 9.5% pretax profit growth in FY19, relatively in line with our forecast.
- Maintain Add, with unchanged TP of VND73,800.
|
Market Price
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Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND33,600
|
VND33,100
|
0.00%
|
HOLD
|
STEEL
|
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