toggle icon
logo text
logo symbol
toggle icon
Back

KBC [OUTPERFORM +19.7%] - IP land sales remain solid; UA sales tracking slower - Update

Company Research

23 Nov 2018

We reiterate our OUTPERFORM rating for KBC and revise up our target price 8% to VND14,200, implying a projected TSR of 19.7%, inclusive of a 7.9% dividend yield. We revise up our target price to mainly reflect accelerated industrial park (IP) land sales for Que Vo 2 (QV2) IP, which we now assume will be fully occupied by the end of 2021 instead of our previous assumption of 2022 but lower our 2019 sales assumption for the Phuc Ninh urban area (UA).
Tags: KBC

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

/trung-tam-phan-tich