Tóm tắt:
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VCS initiate on Dai Thien Loc (HSX: DTL), a local mid-scale flat steel producer, with a HOLD rating given a combination of high prospect of flat steel demand, DTL’s capacity expansion and positive earnings on low cost inventory this year. Our target price of VND22,600 which is based on a justified PER of 6.0x, suggests a 10% upside to the current market price of VND20,600.
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