Back

NKG [OUTPERFORM +13.8%] - Higher HRC input costs slash earnings - Update

Company Research

25 May 2018

We maintain OUTPERFORM rating for NKG but lower our target price to VND22,100 as a tougher competitive landscape and elevated HRC input prices hit earnings. Although we lower our target price by 37%, the stock has fallen 36% since our last update. NKG’s Q1 results, with revenue growing 41% but margin collapsing to a record low, were in line with other players in the steel sector.
Tags: NKG

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

/trung-tam-phan-tich