KBSV recommends buying SCS shares.

KBSV Securities has just added SCS shares to its buy recommendation list. With revenue of VND 272 billion in Q1/2026, SCS shares have positive prospects. Let's explore why SCS shares are an attractive investment choice this year.

According to KBSV, in the first quarter of 2026, Saigon Cargo Services Joint Stock Company (SCS) recorded revenue of VND 272 billion (up 2%), completing 21% of its 2026 revenue plan. The gross profit margin decreased to 78% (down 3 ppts compared to the first quarter of 2025) due to a decrease in the proportion of international passengers as flights to the Middle East were drastically reduced from February 2026. Net profit after tax reached VND 218 billion (up 2%), completing 23% of its 2026 plan.

KBSV recommends buying SCS shares (illustrative image).

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The Middle East flight network, particularly Qatar Airways, is recovering rapidly, helping SCS's international cargo volume improve from the second half of 2026, offsetting the decline in the first half of 2026, projected to reach 224,000 tons – flat compared to 2025.

KBSV expects that, after the infrastructure connecting to Long Thanh Airport is completed, the allocation of international flights between Long Thanh and Tan Son Nhat will fluctuate around 75%/25%. The proportion of international cargo traffic from Ho Chi Minh City via Long Thanh in the second half of 2027/2028/2029 is expected to reach 20%/35%/55%.

KBSV believes that SCS will continue to maintain a high cash dividend rate in the coming years. The dividend for 2026 is expected to be VND 5,000 per share, equivalent to a dividend yield of 8.8% compared to the closing price on June 19, 2026.

Based on business prospects and valuation results, KBSV issues a neutral recommendation for SCS shares, with a target price of VND 56,400 per share.

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Source: https://suckhoedoisong.vn/kbsv-khuyen-nghi-mua-co-phieu-scs-169260624204253721.htm