Company reports

LCG: TURNAROUND STOCK

22-09-2014 11:16:44

We recommend to buy the stock should price fall under VND7,500/share (PB of 0.7x) on market correction and exit at an estimated VND10,000/share (PB at 0.9x). Our target price for LCG is still conservative at PB 0.9x for the stock ...

DANAMECO MEDICAL JSC (DNM) - LEADER IN A NICHE MARKET

27-08-2014 12:08:20

Plenty of room for potential growth from: (1) Leading position in niche market of medical dressings segment (50% market share) with close business relationship with public hospital, clinics,  medical centers …

TLG: 1H2014 POSITIVE PERFORMANCE IN LINE WITH EXPECTATIONS

21-08-2014 15:06:07

Improving business performance in 2Q2014 compared to last year underpinned by: (1) Soaring demand in preparation for back-to-school season translated into 24% y/y growth in revenue. (2) Sharp reduction in interest expense by ...

PNC: AGM Note 2014

30-06-2014 06:20:10

Target 2014 revenue of VND350bn (+4%yoy) and 2014 net profit of VND7bn: Although PNC incurred VND6bn loss in 1H 2014, the company expects to make profits in 2H 2014 to reach AGM’s target. Upbeat expectation is stemmed from ...

DMC: Undervaluation

25-06-2014 18:40:30

Undervaluation: DMC’s 2014 P/E of 8.0x lower than average forward PE of comparable firms 10.8x and attractive 2014 PE/EPS growth of 0.47x. With the expected EPS growth rate of +17% (from a diluted 2013 EPS 4.020 VND/share ...

TTC: Struggling in an oversupplied market

17-06-2014 14:20:30

The local ceramic market has become oversupplied since 2007. Inventory has reached 30% total production in 2013 forcing players to operate at only 70% total capacity (435 mil.sqm/year). TTC has limited competitive advantage ...

VGP: CURRENT STOCK PRICE NOT ATTRACTIVE

10-06-2014 05:20:20

No growth prospect: VGP’s profitable business is the port/warehousing segment but it was running at full capacity since 2009. Sales growth largely comes from trading activity which is not profitable. VGP’s financial strength derives ...

HPG: THE EMERGING STEEL LEADER

09-05-2014 09:20:30

As the steel industry suffered huge oversupply with sale stuck due to economic crisis, HPG took the opportunity to expand market share and quickly emerged as the market leader. HPG’s competitive move is built around low costs ...