Analyst Pin-board: STK – 1H2020 Update: Weak Yarn Demand But Recycled Yarn Was Less Affected Than Virgin Yarn
The pandemic has hurt STK more seriously than our expectations. However, the strategy of focusing on recycled yarn continue to prove its efficiency amid the headwinds. Based on the prospect of the slow recovery of the overall yarn demand in 2H2020, we revise down our target price for STK from VND 20,000/share to VND 15,600/share. With a cash dividend of VND 1,500/share in the next 12 months, the total return is 17%. We recommend to ACCUMULATE the stock.
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