[BUY/TP: VND62,500] Cooling down strain
30/08/2021

Summary

Downgrade to HOLD, maintain target price at VND62,500

As Mocchau Milk‘s share price has bottomed out by +24.5% since end-June and maintaining TP at VND62,500, we downgrade to HOLD from BUY rating for Mocchau Dairy Cattle Breeding JSC., or Mocchau Milk (MCM VN). The increase of share price reflected the confirmation of capacity upgrading in mid-July, which will be completed within 2021 and support the two-digit earnings growth. However, there is not any stronger growth driver for Mocchau Milk beyond our forecast so far.  

Company
MCM-Moc Chau Milk
Category
Update
Author
An Nguyen
Details

Page: 6

Lauguage: English

File format: pdf

Size: 1.36 MB