Result Update Report: HAX - On the way to strengthen its market share
By making its plan to strengthen and expand its market share, we believe that HAX will stay firm at the market leader and maintain growth in the long-term. In addition, HAX ‘s trailing PER has been dragged to the lowest level since the first listing day (Figure 17). Therefore, we suppose that HAX ‘s negative outlook has been fully reflected on its stock price.
The downside risk, however, is the company’s unpredictable commission from Mercedes-Benz, making our forecast on the company’s quarterly business results be different from the actual figures.
We combine FCFF (50%) and multiples comparison (50%) to get a target price of VND20,700, which is lower by 1% compared to the latest target price (VND20,900) on Jan-2023. Adding an expected cash dividend of VND500, the 12-months expected return is 30% compared to the closing price on Mar 27th 2023. Backed by this, we recommend to BUY this stock in long-term.
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.