toggle icon
logo text
logo symbol
toggle icon
Back

SCS [BUY +33.3%] - Cheap valuation given growth story remains solid - Update

Company Research

26 Oct 2018

We raise our rating to a BUY with a TSR of 33.3% despite only cutting our target price by 1% as the stock price has fallen by 18% since our last review. We change our target price to reflect an increase in the discount rate and lower peer multiples, mostly offset by the effect of the DCF roll-over. We forecast 2018 revenue to grow by 16% to VND680bn (USD29mn) and NPAT to grow by 22% YoY to VND420bn (USD18mn).
Tags: SCS

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

/trung-tam-phan-tich