TCM – Growing near-term pain from US-China trade dispute – Update
- Subdued yarn business amid weak demand from China as a result of trade tension.
- Higher labour cost and lower yarn ASP squeezed 1H19 gross margin.
- No final court ruling yet on Sears’s uncollectable receivables.
- Downgrade to HOLD rating with lower target price of VND28,200.
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
VND26,300
|
VND28,200
|
1.98%
|
HOLD
|
TEXTILES
|
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