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DXG [BUY +33.1%] - Growth to ease in 2019 before soaring in 2020/2021 - Update

Company Research

10 Dec 2018

We maintain our BUY rating and raise our target price by 4% to VND35,000/share as an upward revision of assumed selling prices more than offset a lower forecast for pre-sales progress. We maintain our 2018F NPAT-MI forecast of VND1tn (USD45mn, +38% YoY) as Q4 will record continuing handovers at LuxGarden and LDG’s (DXG owns 42%) gain from the GrandWorld project transfer.
Tags: DXG

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