Buy recommendation for MBS stock
According to DSC Securities Company, the business results of MB Securities Company (MBS) in the third quarter were generally relatively good compared to the same period last year, but slowed down compared to the previous quarter. Due to MBS's brokerage activities being worse than expected, DSC lowered its profit forecast for MBS by 2% compared to the previous report.
DSC estimates operating revenue at VND3,134 billion (+73% YoY), pre-tax profit (PBT) at VND997 billion (+39% YoY). The key to driving MBS's growth in the coming period is forecast to still come from positive self-trading results thanks to an increase in the scale of the self-trading portfolio. The target price for MBS shares in 2024 is VND31,700/share. DSC recommends that investors prepare to take profits on shares at the target price.
Positive recommendation for KDH stock
According to Bao Viet Securities Company (BVSC), Khang Dien Housing Investment and Trading Joint Stock Company (KDH) is a real estate company that we like because it owns a large land fund in Ho Chi Minh City and is entering the final stage of compensation and legal completion; has a very strong financial situation; and benefits greatly when the real estate market in Ho Chi Minh City recovers and grows rapidly again from 2025.
We maintain our OUTPERFORM recommendation on KDH shares with a target price of VND45,000/share (dividend and ESOP adjustment).
Business results will improve again in 2024-2025; the commencement of a new project (11A) and information about Tan Tao Urban Area will be factors supporting KDH stock price in the coming time.
Recommendation to increase weight for PVT shares
Mirae Asset Securities Company recommends increasing the proportion of shares of PetroVietnam Transportation Corporation (PVT), target price of VND 32,100/share based on investment thesis: Demand for oil/oil product transportation continues to increase in the second half of 2024 due to limited supply. However, Mirae Asset forecasts that 2025 will cool down somewhat due to improved supply and reduced tensions in the Red Sea. Mirae Asset forecasts PVT's revenue in 2024 to reach VND 11,319 billion (+18% YoY) and net profit to reach VND 1,132 billion (+16% YoY).
Regarding investment plans: As of September 2024, PVT has received 4 more ships (2 bulk carriers, 1 LPG ship, 1 chemical ship). In the last quarter of the year, PVT is expected to receive 4 more ships including 2 MR tankers and 2 Handysize and Supramax bulk carriers. Rejuvenating and expanding the fleet is PVT's strategic goal in the period of 2024-2025, and fleet expansion is expected to be the main driver of growth for PVT in the future.
► Stock market commentary 11/1: The market is likely to continue its upward trend
Source: https://vov.vn/thi-truong/chung-khoan/mot-so-co-phieu-can-quan-tam-ngay-111-post1132396.vov
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