Tóm tắt:
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Maintain HOLD call at revised target price of VND23,700. Our revised target price pegged at a forward P/E of 4.1x with FY11 NPAT projected at VND101 bn ~ EPS of VND5,780. Despite the target price offers 25% potential upside vs the current level (VND19,000), low liquidity is still SEC coded-share’s weakness (ave. 3M volume of 3,200 shares). Hence, SBSC retain our HOLD recommendation for SEC.
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