|
Tóm tắt:
|
On the reporting date, BCI traded at VND 15,300 per share, implied P/E of 5.8x and P/B of 0.62x. Compared to BCI’s average historical P/B in the last 4 years, the current price is reasonable for long-term investment. However, the liquidity risk of the company operation is our biggest concern because the gloomy condition of the real estate marke might last longer than expected. Moreover, the 3-month average trading volume is quite low due to the high holding of institute investors and down trend of whole market. PHS recommend Neutral rating in this moment for BCI Investors should be patient and wait until real estate market see clear recovery signs.
|
|
|
|
|