[BUY/TP: 46,200] The rising tide
23/11/2021

Summary

Initiate coverage with BUY call and Target price of VND46,200

Saigon Port JSC, one of the largest seaport operators in Vietnam, is our top picks in seaport players, given that: 1) competitive advantages of Saigon - Hiep Phuoc port (favorable geographical position and supported shipping lines) in Hochiminh City; 2) bearing fruit from their joint ventures in Cai Mep-Thi Vai are deep seaports, which will improve its return on equity over the upcoming years; and 3) Holding the “golden land” in HCMC city central. Via employing DCF valuation method, we initiate the BUY rating and target price of VND46,200 (a potential upside of +31.6% from the current price of VND35,100).

Company
SGP-Saigon Port
Category
Initiation
Author
Lam Do
Details

Page: 21

Lauguage:

File format: pdf

Size: 2.51 MB