Analyst Pin-board VHC – 2022 earnings to continue growing
|
· We maintain our target price of VND 75,000/share, implying an expected return of 25% including a 3% cash dividend yield for a one-year horizon. We recommend BUYING this stock. · VHC released 2021 consolidated revenue of VND 9,067 Bn (or USD 394 Mn, +29% YoY), in line with our forecast. We are optimistic that 4Q 2021 NPAT will see a strong increase due to high fillet selling prices on the back of a low 4Q 2020 base. · For FY22, we project revenue and NPAT to reach VND 10,287 Bn (or USD 447 Mn, +13% YoY) and VND 1,177 Bn (or USD 51 Mn, +21% YoY), respectively. The 2022 EPS will be VND 6,369 and 2022 forward PER 11.8x at our target price. We think this PER is reasonable for VHC due to its long-term earnings growth to improve and less volatile compared to the past. |
Vinh Hoan Corp. Vinh Hoan Corporation is a Vietnam-based seafood processing company. It manufactures and exports fresh and frozen pangasius fillets, as well as value-added products from pangasius. The Company's products also include other value added seafood products including those from barramundi, shrimps, scallop and others; the by-product from seafood processing such as fish oil, fin nuggets and belly nuggets and other products such as gelatin powder, collagen powder and rice. The Company is also involved in aquaculture activities, the manufacturing and trading of aquaculture feeds, veterinary medicine and fertilizer.
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.