DGC shares have had very positive developments since the beginning of the year until now. The stock price has reached the target price of VND128,000\/share we set out in the report on December 25, 2023, in the trading sessions of March 14 and 15, 2024. We assess that the stock price has had positive developments partly thanks to the expectation that businesses will benefit from the developments of the semiconductor industry, and partly thanks to the positive sentiment in the stock market in the recent period. However, currently the stock price has decreased to VND108,000\/share (closing price on April 19, 2024).<\/p>\n
DGC’s 2023 revenue reached VND9,761 billion, down 32% yoy. 2023 PAT reaches VND3,242 billion, down 46% yoy. Revenue and PAT in 2023 were lower than our forecast made on December 25, 2023. Besides, the business also issued a rather conservative business plan for 2024 with a consolidated revenue target of VND10,202 billion, equivalent to +4.6% yoy, and a PAT target of VND3,100 billion, equivalent to -4.4% yoy. Preliminary business results for the first quarter: revenue is estimated to be 2,200 billion VND, equivalent to -11% yoy; profit after tax is estimated to be 700 billion VND, equivalent to -15% yoy.<\/p>\n
We updated our forecast on DGC’s earnings and our stock valuation. We give an ACCUMULATE<\/strong> recommendation on DGC<\/strong> stock with a target price in 6-18 months of VND117,000\/share<\/strong>. This valuation is equivalent to a P\/E forward of 12.01x and an upside of +8.33% compared to the stock’s closing price on April 19, 2024 (VND108,000\/share).<\/p>\n","protected":false},"author":24,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-22672","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"