Analyst Pin-board IMP: Cost cutting to overcome tough times
Although the core business was hit strongly by COVID-19, IMP took effective measures to cut SG&A expenses and maintained a high net income growth rate in 3Q. Due to higher orders and attempts to cut expenses, we expect that the company will record the highest quarterly net income ever in 4Q2020 and fulfill the annual pre-tax profit target of VND 260 billion. Owing to its large potential from EU-GMP factories and favorable policies, IMP has a bright prospect in 2021. We will update our 2021 forecast in the next Result Update Report. Currently, we recommend to ACCUMULATE IMP shares with a target price of VND 53,000, plus a cash dividend of VND1,500. The total return is 17% at the closing price on October 20th, 2020.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.