[VHC/BUY/ TP: VND 102,800] - Expected to recover from the end of Q3/2023
08/08/2023

Summary

Update recommendation BUY, target price at VND 102,800 

Vinh Hoan Corporation is the leading pangasius enterprise in Vietnam with an export proportion of more than 15%. Year 2023 is forecasted to be a difficult year for the pangasius industry in general and Vinh Hoan in particular. However, we estimate that the company's pangasius export segment will recover from late Q3/2023 or early Q4/2023 thanks to the improvement on demand from the US market. Based on the FCFF and EV/EBITDA methods, we update the target price of VHC at VND 102,800.

Company
VHC-Vinh Hoan Corp.
Category
Update
Author
SSV
Details

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