Analyst Pin-board STK – 2020 Performance: Recycled Yarn to Keep Resilient Outlook
The 2020 performance was much better than our forecast because of the strong growth in sales of recycled yarn in 4Q, which led to its share in total sales rising to 45%, versus 40% in our assumptions. This, once again, confirm the efficiency of the strategy of focusing on recycled yarn. Thus, we revise up our target price for STK from VND 22,700/share to VND 28,200/share, as we think the high growth potential of recycled yarn will continue in the coming years. With an expected cash dividend of VND 1,500/share in the next 12 months, the total return is 13%, based on the closing price of February 3rd, 2021. We recommend to ACCUMULATE this stock.
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