QNS is trying to improve its two main segments with different strategies: soymilk (diversification) and sugar (competitiveness). However, it is necessary to develop, change itself to stay in existence and keep growing. In our opinion, the BOD is doing well. In 2019, we forecast that QNS will continue to post positive results thanks to the contribution of new soymilk products and profitability of the sugar segment.
We maintain our positive view for QNS with the target price of VND60,200 per share, plus cash dividend of VND1,500, generating a total return of 45%, compared to the closing price on Nov 21st 2018. So BUY!
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