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Recommend Stocks - 07.08.2017
Recommend Stocks - 07.08.2017
KHUYN NGH U T
Vn ho Doanh thu S hu Li nhun rng ROE PER PBR Gi mc tiu
Upside (%)
(t ng) (t ng) NTNN (%) (t ng) (%) (x) (x) (VND)
Ngn Hng TMCP Chu (HNX: ACB) 25,436 16,473 30.00 1,325 9.50 13.61 1.23 29,000 12
CTCP Xi mng Bm Sn (HNX: BCC) 1,188 4,280 8.59 257 14.15 6.43 0.86 17,300 60
CTCP T PT Cng Thun IDICO (HOSE: CTI) 1,984 1,054 32.39 113 18.19 8.96 1.58 35,100 11
CTCP FPT (HOSE: FPT) 26,597 39,531 49.01 1,991 19.88 11.21 2.12 57,700 15
CTCP Gemadept (HOSE: GMD) 11,978 3,742 NA 390 7.07 13.44 0.94 52,900 27
CTCP Vn ti v Xp d Hi An (HOSE: HAH) 804 488 29.21 134 23.16 7.08 1.56 27,800 20
CTCP Dch v t Hng Xanh (HOSE: HAX) 957 2,880 15.54 78 36.20 6.33 1.94 48,000 17
CTCP Tp on H (HOSE: HDG) 2,347 1,988 20.28 236 21.83 7.67 1.54 36,200 17
CTCP Tp on Hoa Sen (HOSE: HSG) 9,660 17,894 27.75 1,504 41.04 5.71 2.00 34,290 24
CTCP TCT PT th Kinh Bc (HOSE: KBC) 6,999 1,972 34.03 557 7.50 11.68 0.84 19,000 28
CTCP u t Th gii di ng (HOSE: MWG) 32,763 44,613 49.02 1,577 49.91 15.22 6.25 112,500 6
CTCP Thp Nam Kim (HOSE: NKG) 3,050 8,936 30.12 518 46.36 3.41 1.47 36,000 18
TCT CP Gas Petrolimex (HOSE: PGC) 929 2,379 10.99 103 15.33 7.55 1.08 17,000 10
CTCP Vng bc qu Ph Nhun (HOSE: PNJ) 11,621 8,565 49.00 450 30.60 15.17 4.36 113,500 6
CTCP C in Lnh (HOSE: REE) 11,906 3,659 49.00 1,093 16.21 6.99 1.07 41,100 7
CTCP Quc t Sn H (HOSE: SHI) 532 2,359 6.73 113 14.96 4.46 0.61 11,100 26
CTCP TM XNK Thin Nam (HOSE: TNA) 531 3,482 13.47 112 28.41 5.90 1.51 59,760 38
CTCP Vn ti Xng du VIPCO (HOSE: VIP) 527 631 5.37 83 7.78 6.50 0.49 10,000 30
CTCP Tp on Container Vit Nam (HOSE: VSC) 2,569 1,082 49.00 251 17.33 11.27 1.89 72,000 28
CTCP Thy in Vnh Sn - Sng Hinh (HOSE: VSH) 3,888 448 15.45 258 8.94 12.72 1.13 20,500 9
(Ngun: Bloomberg)
07/08/2017
KHUYN NGH U T
ACB d kin s thc hin chi tr c tc bng tin t l 15% trong nm 2018.
mc li nhun sau thu 2018 t mc 2.854 t, tng ng EPS 2018 mc 3.703 /cp,
tng ng P/E 2018 mc thp 6,6 ln. Nh vy, chu k 5 nm ti cu trc thnh cng
sau v n ng Nguyn c Kin s th hin mt cch r nt hn t 2018.
07/08/2017
KHUYN NGH U T
Ni tiu th chnh ca BCC l Thanh Ha ang thu ht dng tin u t tt khi c c nhiu
cng trnh xy dng ln c trin khai nh nh my lc du Nghi Sn.
Trm nghin xi mng mi Bm Sn vi cng sut 1,2 triu tn/nm nng tng cng sut
nghin ln 4,75 triu tn/nm s i vo hot ng Q1/2018 s gip gim chi ph v tng
bin li nhun.
p lc cnh tranh cao khin Qu 1/2017 BCC khng t kinh doanh kh quan do vic
gim chi ph khng bng vic gim doanh thu. D bo nm 2017, BCC ch t li nhun
rng 232 t, gim hn 9% so vi cng k.
07/08/2017
KHUYN NGH U T
- Tnh l 16, Bi Hu Ngha. T l s hu: 100%, doanh thu 4.4 t ng/thng. Thi
gian thu ph: 2006-2021.
- Quc l 1A, on trnh Tp. Bin Ha. T l s hu: 83%. Doanh thu: 25 t
ng/thng. Thi gian thu ph: 2014-2027.
- Quc l 91, Cn Th - An Giang. T l s hu: 59%. Doanh thu 15 t ng/thng.
Thi gian thu ph: 2016-2033.
- Nt giao 319 v Cao tc Tp. HCM - Long Thnh. T l s hu: 60%. Tng mc u
t: 670 t ng. D kin hon thnh vo cui 2017. Thi gian thu ph: 22 nm 2
thng.
07/08/2017
KHUYN NGH U T
FPT l mt doanh nghip ni bt, c bit trong lnh vc cng ngh khi ang dn u
cc phn khc: 1) Cung cp dch v cng ngh thng tin (CNTT); 2) Tch hp h thng; 3)
Dch v qung co trc tuyn; 4) Phn phi cc sn phm in thoi di ng v thit b
CNTT trong nm 2015.
Chng ti cho rng vic thoi vn FPT Trading v Shop s din ra. Tuy nhin, kh nng
ban lnh o ang cn nhc vic thoi vn mc no hi ha li ch, c th thoi vn
mt mnh FPT Trading hoc c hai. Phn vn thoi c chng ti k vng s chuyn sang
gia tng s hu ti FPT Telecom ln hn con s 45,6% nh hin ti.
07/08/2017
KHUYN NGH U T
Kh nng thu c li nhun trc thu thoi vn t bin hn 2.400 t ng: 1) khong
129 t t thoi vn 15% cn li ti Gemadept Tower; 2) khong 100 t t thoi vn 51% ti
CTCP Tip vn v Cng quc t Hoa Sen Gemadept; 3) hn 2.200 t thoi vn ti a 51%
ti Vn ti bin Gemadept Holding v Logistics Gemadept Holding.
GMD l mc tiu M&A trong Tae Kwang l n v th hin r rang mun thu tm
51% c phn ca GMD.
07/08/2017
KHUYN NGH U T
07/08/2017
KHUYN NGH U T
07/08/2017
KHUYN NGH U T
Hot ng HDG mang tnh n nh, nn tng cao. Trin vng nm 2018 tr i s c h
tr nh: 1) D n dch v Dch Vng Cu Giy (khch sn, cn h v vn phng) d kin
a vo hot ng cui nm 2017; 2) 2 d n Khch sn, khu ngh dng Bo i v Thy
in Nhn Hc (59M) s vo hot ng trong nm 2018.; 3) Li th t B Quc Phng gip
HDG c qu t di do cc v tr p ti TP.HCM cng nh H Ni.
07/08/2017
KHUYN NGH U T
07/08/2017
KHUYN NGH U T
D kin li nhun sau thu nm 2017 t 921 t, tng trng 65% so vi cng k vi ng
lc n t: 1) Vn FDI tng trng k vng kh quan. ;2) k vng ton b 3,4ha t nn
ti d n Phc Ninh s c chuyn nhng ht trong nm 2017; 3) cc khu cng nghip
Nam Sn Hp Lnh, Tn Ph Trung, Qu V, Quang Chu v Trng Du s bn giao c
cho khch mi; 4) vic chuyn nhng d n Hoa Sen 4,2ha ng Phm Hng, HN.
Vi qu t khu cng nghip di do (4.500ha) v 1.300ha t pht trin dn c th KBC
d a cho vic pht trin trong t nht 10 nm ti.
Khu cng nghip Trng Du giai on 3 vi 456ha ang trnh Th Tng nu c thng
qua s l ng lc tng trng cho di hn khi din tch gn gp i tng din tch pht
trin ca Trng Du giai on 1 v 2.
07/08/2017
KHUYN NGH U T
D kin doanh thu thun v li nhun sau thu nm 2017 ca MWG ln lt t 67.648 t
doanh thu chui thegioididong t 38.664 t, tng trng 25% cng k; 2) chui in my
xanh t 28.138 t doanh thu, tng trng 105% cng k; 3) mng Bch ha xanh t 846
Ban lnh o c phn nng ng khi ang th nghim nhiu m hnh mi nh Vietlott,
07/08/2017
KHUYN NGH U T
Xut khu chim 50% t trng bn hng, nh li th v thu cc th trng trong khu
vc v Chu u.
Hip hi thp Vit Nam d bo th trng thp tng trng 12% trong nm 2017.
07/08/2017
KHUYN NGH U T
Hot ng kinh doanh ca cng ty lin tc c ci thin khi t sut li nhun rng/vn
ch s hu bnh qun (ROE) qua cc nm t 12,2% nm 2013 ln 14,9% nm 2016.
D bo li nhun sau thu nm 2017 t 114,2 t ng, tng ng EPS 2017 t 1.889
ng/cp, tng trng 10,8% so vi cng k.
Chin lc sn phm cht lng, an ton cao s gip PGC d dng pht trin th trng
hn trong giai on an ton chy n ang c ngi tiu dng quan tm.
Vi th phn phn phi LPG chim khong 10% ton quc v h thng phn phi tt, PGC
s l mt cng ty thch hp cc nh phn phi gas ln c th m phn mua li trong
tng lai (nu c).
07/08/2017
KHUYN NGH U T
Mng kinh doanh tng trng n nh, chi ph khng ln cng nh p lc tn kho thp.
D kin tng trng hng nm t mc 15% - 20%: 1) mc tng doanh thu t cc ca
hng nh mc nhn bit ngy cng cao. ;2) S tng trng t vic pht trin ca hng
mi khong 8% - 10%/nm.
07/08/2017
KHUYN NGH U T
c tnh tng li nhun sau thu cc mng (bt ng sn, in, nc v than) t mc
632 t, chim 47% tng li rng nm 2017 so vi mc khong 45% ca nm 2016.
Trong giai on 2013 2016, REE duy tr mc c tc bng tin/th gi mc 5,4% tr ln,
y l mc kh quan so vi nhiu doanh nghip trn sn. Sang 2017, chng ti d bo t
l c tc bng tin ca REE t mc 18% - 20%, tng ng mc c tc/th gi quanh 6,4%
- 7,1%.
07/08/2017
KHUYN NGH U T
Cng sut ton phn cc nhm sn phm gia dng hu ht tng khong 40% - 60% so
vi cng k 2016. Tng ng, SHI cng ang lin tc gia tng nhn vin, h thng ca
hng, i ng nhn vin qun l c th thc y doanh s.
Doanh thu v li nhun sau thu, ROE lin tc tng trng 3 nm lin tip. Qu 1/2017,
SHI t mc tang trng doanh thu v li nhun ln lt 50% v 84% so vi cng k.
L mt thng hiu ni ting v sn phm dn dng (bn nc, bnh nc nng, ), cht
lng cao, thi gian bo hnh mc cao nht so vi cc thng hiu khc ti Vit Nam.
07/08/2017
KHUYN NGH U T
Ba mng kinh doanh ct li (cho thu bt ng sn, nhp khu v phn phi cc mt hng
thc phm cng ngh cao cp v kinh doanh thp) gi n nh hot ng ca TNA.
Mc d doanh thu cho thu bt ng sn nm 2015 ch chim 1,7% tng doanh thu
nhng li chim n 22,6% li nhun trc thu c nm 2015. Hin ti, TNA c 10 v tr bt
ng sn cho thu vi ph lun st 100% nh dch v cht lng tt. y l ngun
thu n nh gip cho TNA c th pht trin bn vng qua cc nm.
07/08/2017
KHUYN NGH U T
C tc bng tin lin tc trong nhiu nm. Nm 2017, d kin c tc 8% bng tin, tng
ng mc c tc/th gi t hn 10%.
Khu vc Hi Phng tip tc cho thy s tng trng, pht trin nng ng l tnh hng
u nhn vn u t t nc ngoi (FDI) trong nhng nm gn y.
07/08/2017
KHUYN NGH U T
Khu vc Hi Phng s tip tc hng li t vic tng mnh vn FDI gii ngn Hi Phng
ang c n 18 khu cng nghip trong ni ln nhng khu cng nghip ang thu ht
nhanh vn u t nh Trng Du, Trng Ct, nh V Ct Hi, D kin tng trng sn
lng hng ha giai on 2017 2018 tng trng khong 8% - 10% ti cng Hi Phng.
Doanh thu v LNST nm 2017 c tnh t 1.439 t v 342 t, ln lt tng trng 33% v
36% so vi 2016. EPS 2017 c tnh 7.507 ng/cp, tng ng mc P/E forward mc 7,7
ln.
VSC v kh nhiu m trong ngnh ang giao dch quanh vng P/E t 10 n 12 ln. Tuy
nhin, vic bt ph li nhun ca VSC trong 2017 nhiu kh nng s gip VSC c cu
chuyn tch cc ring bit.
07/08/2017
KHUYN NGH U T
07/08/2017
Disclosures
As of the publication date, Mirae Asset Daewoo Co., Ltd. and/or its affiliates do not have any special interest with the subject company and do not own 1% or more of the subject company's shares outstanding.
Analyst Certification
The research analysts who prepared this report (the Analysts) are registered with the Korea Financial Investment Association and are subject to Korean securities regulations. They are neither registered as research analysts in
any other jurisdiction nor subject to the laws and regulations thereof. Opinions expressed in this publication about the subject securities and companies accurately reflect the personal views of the Analysts primarily responsible for
this report. Mirae Asset Daewoo Co., Ltd. (Mirae Asset Daewoo) policy prohibits its Analysts and members of their households from owning securities of any company in the Analysts area of coverage, and the Analysts do not
serve as an officer, director or advisory board member of the subject companies. Except as otherwise specified herein, the Analysts have not received any compensation or any other benefits from the subject companies in the past
12 months and have not been promised the same in connection with this report. No part of the compensation of the Analysts was, is, or will be directly or indirectly related to the specific recommendations or views contained in this
report but, like all employees of Mirae Asset Daewoo, the Analysts receive compensation that is impacted by overall firm profitability, which includes revenues from, among other business units, the institutional equities, investment
banking, proprietary trading and private client division. At the time of publication of this report, the Analysts do not know or have reason to know of any actual, material conflict of interest of the Analyst or Mirae Asset Daewoo
except as otherwise stated herein.
Disclaimers
This report is published by Mirae Asset Daewoo, a broker-dealer registered in the Republic of Korea and a member of the Korea Exchange. Information and opinions contained herein have been compiled from sources believed to
be reliable and in good faith, but such information has not been independently verified and Mirae Asset Daewoo makes no guarantee, representation or warranty, express or implied, as to the fairness, accuracy, completeness or
correctness of the information and opinions contained herein or of any translation into English from the Korean language. If this report is an English translation of a report prepared in the Korean language, the original Korean
language report may have been made available to investors in advance of this report. Mirae Asset Daewoo, its affiliates and their directors, officers, employees and agents do not accept any liability for any loss arising from the use
hereof. This report is for general information purposes only and it is not and should not be construed as an offer or a solicitation of an offer to effect transactions in any securities or other financial instruments. The intended
recipients of this report are sophisticated institutional investors who have substantial knowledge of the local business environment, its common practices, laws and accounting principles and no person whose receipt or use of this
report would violate any laws and regulations or subject Mirae Asset Daewoo and its affiliates to registration or licensing requirements in any jurisdiction should receive or make any use hereof. Information and opinions contained
herein are subject to change without notice and no part of this document may be copied or reproduced in any manner or form or redistributed or published, in whole or in part, without the prior written consent of Mirae Asset
Daewoo. Mirae Asset Daewoo, its affiliates and their directors, officers, employees and agents may have long or short positions in any of the subject securities at any time and may make a purchase or sale, or offer to make a
purchase or sale, of any such securities or other financial instruments from time to time in the open market or otherwise, in each case either as principals or agents. Mirae Asset Daewoo and its affiliates may have had, or may be
expecting to enter into, business relationships with the subject companies to provide investment banking, market-making or other financial services as are permitted under applicable laws and regulations. The price and value of
the investments referred to in this report and the income from them may go down as well as up, and investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not
guaranteed, and a loss of original capital may occur.
Distribution
United Kingdom: This report is being distributed by Daewoo Securities (Europe) Ltd. in the United Kingdom only to (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the Order), and (ii) high net worth companies and other persons to whom it may lawfully be communicated, falling within Article 49(2)(A) to (E) of the Order (all such persons together being referred to as
Relevant Persons). This report is directed only at Relevant Persons. Any person who is not a Relevant Person should not act or rely on this report or any of its contents.
United States: This report is distributed in the U.S. by Daewoo Securities (America) Inc., a member of FINRA/SIPC, and is only intended for major institutional investors as defined in Rule 15a-6(b)(4) under the U.S. Securities Exchange
Act of 1934. All U.S. persons that receive this document by their acceptance thereof represent and warrant that they are a major institutional investor and have not received this report under any express or implied understanding
that they will direct commission income to Mirae Asset Daewoo or its affiliates. Any U.S. recipient of this document wishing to effect a transaction in any securities discussed herein should contact and place orders with Daewoo
Securities (America) Inc., which accepts responsibility for the contents of this report in the U.S. The securities described in this report may not have been registered under the U.S. Securities Act of 1933, as amended, and, in such
case, may not be offered or sold in the U.S. or to U.S. persons absent registration or an applicable exemption from the registration requirements.
Hong Kong: This document has been approved for distribution in Hong Kong by Daewoo Securities (Hong Kong) Ltd., which is regulated by the Hong Kong Securities and Futures Commission. The contents of this report have not
been reviewed by any regulatory authority in Hong Kong. This report is for distribution only to professional investors within the meaning of Part I of Schedule 1 to the Securities and Futures Ordinance of Hong Kong (Cap. 571, Laws
of Hong Kong) and any rules made thereunder and may not be redistributed in whole or in part in Hong Kong to any person.
All Other Jurisdictions: Customers in all other countries who wish to effect a transaction in any securities referenced in this report should contact Mirae Asset Daewoo or its affiliates only if distribution to or use by such customer of
this report would not violate applicable laws and regulations and not subject Mirae Asset Daewoo and its affiliates to any registration or licensing requirement within such jurisdiction.
07/08/2017
Cm n nhiu