22/05/2024
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We estimate that revenue and NPAT in 2024 will reach VND 130,000 billion (+9.91% YoY) and VND 2,400 billion (+1,337% YoY), respectively, EPS 2024 is 2,200 VND/share, equivalent to P/E fw 30x. We recommend BUY for MWG stock, target price 66,000 VND/share, upside 10% compared to the price on May 20, 2024 of 60,000 VND/share. INVESTMENT THESIS TGDD and DMX will recover thanks to: 1/ The outlook for the ICT segment will recover from the low base of 2023; 2/ New phone replacement cycle after 3-4 years from the peak of 2020-2021 will boost shopping demand. Bach Hoa Xanh leading the group with: 1/ Expect to reach EBITDA breakeven point thanks to good control of costs and supply chain, promoting multi-channel sales; 2/ Expect to expand into the North and IPO plans in the next 1-2 years help raise the group’s valuation. In addition, completing selling capital to CDH Investment earlier this year helped strengthen the chain’s business development resources. |
24/04/2026
GTJASVN_HPG EquityReport_ Update AGM 2026_April 21 2026_en KEY HIGHLIGHTS · At the meeting, Chairman Tran Dinh Long announced the Q1 2026...
20/04/2026
KEY TAKEAWAYS At the 2026 Annual General Meeting (held on April 17, 2026), PVI announced its 2026 business plan with the following highlights: Consolidated...
25/03/2026
(EN) GTJASVN RS_MSN Equity Report _Masan – Repositioning for growth _TP96,198_Mar 23, 2026 BUSINESS UPDATES According to the FY2025 business results...
