Notable stocks on October 9

Rong Viet Securities Joint Stock Company (VDSC) recommends buying MBB shares of Military Commercial Joint Stock Bank with a target price of VND 22,600/share.

In the second quarter of 2023, MBB recorded total operating income of VND 11,500 billion, of which net interest income was VND 9,400 billion, contributing 82% of total income. Accumulated in the first 6 months of the year, MBB's total operating income and pre-tax profit reached VND 23,400 billion and VND 12,700 billion, respectively, up 3% and 7% over the same period, completing 49% of the yearly plan.

VDSC expects MBB's interest income in the second half of 2023 to be more positive as credit growth remains high compared to the whole industry and the net interest income ratio has shown signs of recovery.

In 2023, VDSC forecasts that MBB will achieve credit growth of 19%; operating income and pre-tax profit of this bank are forecast to reach VND50,100 billion and VND26,600 billion, up 10% and 17% respectively over the same period. Profit after tax and profit margin per share are forecasted to be VND20,500 billion and VND4,214, respectively.

Therefore, MBB recommends buying MBB shares at a target price of VND 22,600/share, currently the stock is priced at VND 18,150/share.

Notable stocks on October 9

KB Vietnam Securities Joint Stock Company (KBSV) recommends buying HSG shares of Hoa Sen Group Joint Stock Company with a target price of VND 24,700/share.

In the third quarter of the 2022-2023 fiscal year, HSG recorded net revenue of VND 8,645 billion and gross profit of VND 892 billion, down 29% and 44% respectively over the same period.

KBSV expects HSG's domestic galvanized steel consumption output to gradually recover, and the export channel will support the company's revenue from late 2023 and early 2024.

With HRC prices remaining at a low base level for a long time from mid-2022, KBSV assesses that this will be a good opportunity for steel manufacturing enterprises to increase raw material imports at low prices, helping to improve gross profit margins when the selling prices of steel and galvanized steel products increase again, including HSG.

On that basis, KBSV recommends buying HSG shares with a target price of VND24,700/share. Closing the session on October 6, HSG was at VND18,750/share.

ACBS Securities Company recommends positive stock BCM of Industrial Investment and Development Corporation with target price of VND 78,813/share.

According to ACBS, BCM is the investor owning 942 hectares of commercial industrial park (IP) land and 1,000 hectares of residential real estate concentrated in Binh Duong province. BCM's industrial land fund is the largest in Binh Duong and the third largest in Vietnam with 3.6% of the national market share. If adding affiliated companies owning 18 IPs, BCM is the largest industrial real estate (RE) investor in Vietnam with 12.4% of the market share.

In the long term, ACBS believes that the industrial real estate segment can still achieve stable and sustainable growth thanks to the prospect of China + 1 and the free trade agreements that Vietnam has actively signed with strategic partners in the recent period. With limited industrial land fund, rental demand is still increasing, thereby the occupancy rate is expected to be stable and the average rental price will increase slightly in the coming years.

In 2023, ACBS expects BCM to continue to grow with revenue of VND9,068 billion and profit after tax of VND2,187 billion. In addition, the fact that this enterprise continues to sell land plots in Binh Duong New City to secondary investors in the coming years will help BCM's net profit maintain a compound growth rate of 8%/year in the period of 2023-2025.

Based on the above factors, ACBS recommends buying BCM shares with a target price of VND78,813/share. BCM is currently at VND69,500/share.

(Analysis and recommendations of securities companies are for reference only).

Source: https://nld.com.vn/kinh-te/nhung-co-phieu-dang-chu-y-ngay-9-10-20231008000022334.htm