+ MayBank Securities Company Limited has just issued a quick report on the stock code CII of Ho Chi Minh City Infrastructure Investment Joint Stock Company with a buy recommendation around 17,050 VND/share, the nearest target at 18,800 VND/share and stop loss at 15,950 VND/share.
According to a report on June 14, MayBank Securities said that technically, CII's price has an upward trend, having surpassed and maintained above the MA20 line since the beginning of May with relatively good liquidity. The adjustment process after a strong increase period that has taken place over the past week has caused the price line to retreat to the support level at the MA20 but still maintaining the existing larger uptrend.
In addition, low liquidity in the price adjustment session on June 14, trading volume decreased lower than the 20-day average in the price session, creating a prolonged decrease, creating a contradiction between efforts and results in the direction of "doubt" about the decrease results on June 14.
According to MayBank Securities, CII shares are trading at a P/E of 46.6x and a P/B of 0.8x, with ROE <10%.
In terms of fundamentals, CII achieved VND748 billion in net revenue in the first quarter of 2023, up 5% over the same period last year, of which traffic fees reached VND348 billion and real estate business activities reached VND355 billion. However, profit after tax decreased sharply by 95% to VND34.8 billion due to a sharp decrease in financial revenue.
Notable stocks on June 15. Photo: Hoang Trieu
+ Bao Viet Securities Joint Stock Company (BVSC) recommends buying VEA shares of Vietnam Engine and Agricultural Machinery Corporation - JSC with a target price of VND 40,930/share.
BVSC’s recommendation is based on the company’s challenging short-term outlook. BVSC has revised down VEA’s 2023 net profit forecast by 14.1% to VND6,455 billion, before rebounding by 10.6% in 2024.
According to BVSC, VEA is trading at a P/E of 7.5x (mid-2024) and 7.1x (2024) compared to the 5-year average of 9.1x.
+ Phu Hung Securities Joint Stock Company (PHS) recommends observing and buying BMI shares of Bao Minh Joint Stock Corporation and PVD code of Oil and Gas Drilling and Services Joint Stock Corporation.
Specifically, according to technical analysis, Phu Hung Securities believes that BMI price will have a correction session with low liquidity after the previous positive increase and the MA20 line is pointing up, from which a technical correction may appear. Investors can wait to buy at the current price range. The near resistance of BMI stock is in the range of 26,000-27,000 VND/share and cut loss at 23,200 VND/share.
Regarding the code PVD, Phu Hung Securities analyzed that this stock is adjusting with a volume that is often below average, the MA50 and 100 lines are still pointing up, creating a positive medium-term trend and it is likely that only a technical decline will appear. Therefore, investors can wait to buy when PVD price tests the support level of 22,000 - 22,800 VND/share and cut losses at 21,000 VND/share.
+ VNDIRECT Securities Joint Stock Company (VND) maintains a positive recommendation to buy PLX shares of Vietnam National Petroleum Group ( Petrolimex ).
Specifically, in the June 14 report, VNDIRECT recommends buying PLX shares with a target price of VND 45,600/share.
According to Mr. Nguyen Ngoc Hai, analyst of VNDIRECT, the basis for buying PLX is because the group has a dominant position in the field of petroleum distribution in Vietnam, so it benefits from the increasing demand for petroleum consumption in Vietnam.
Along with that, the business's strong recovery potential from 2023 onwards is due to the stabilization of the domestic petroleum market.
In addition, the report added that Petrolimex's net profit in the first quarter of 2023 increased by 154.7% compared to the same period last year, reaching VND620 billion thanks to the stable domestic petroleum supply. VNDIRECT expects to achieve a compound annual growth rate of about 46.1% in net profit in the 2023-2025 period thanks to the stable domestic petroleum market and increased demand for petroleum consumption.
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