From January 19, 2024, the Research Center will be moved to Vietcap IQ
toggle icon
logo text
logo symbol
toggle icon

DXG [BUY +31.5%] - Broad-based growth expected - Update

Company Research

07 Feb 2018

We reiterate our BUY rating on DXG, and raise our target price by 51% to VND35,100 mainly due to (1) increasing profitability of the brokerage segment and DCF roll-over effects of the projects, (2) a reduction of the NAV discount to 10% from 20%, as we believe DXG has successfully transformed into a residential real estate developer from a pure brokerage business and (3) upward revaluation of DXG associate LDG, as we now consider it more of a core part of DXG’s business.
Tags: DXG

Contact us for a research access: (+84) 2 8888 2 6868