Analyst Pin-board HSG – Positive export activities in 2H/FY2020-2021
HSG’s export activities are likely to be more positive as the company has enough orders for production until September. Export gross margins could be stable in 3Q/FY2020-2021 as HRC prices are still in an uptrend in Europe and the US, which maintain a large gap with prices in Vietnam. In domestic market, steel prices have increased at a higher pace compared to 2Q/FY2020-2021. This can affect positively to HSG’s gross margin. We forecast that HSG will earn roughly VND 1,400 billion in 3Q and roughly VND 3,550 billion for the whole year, increasing by 210% YoY. We recommend investors Accumulate this stock with a target price of VND 46,000/share
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