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Tóm tắt:
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PHS's target price is anchored in P/E (70% weight with a 15.8x P/E and estimated FY13 EPS) and P/B (30% weight with a 1.9x P/B and estimated FY13 BVPS) methods. The EPS and BVPS are calculated on lower outstanding shares, taking account of 7.6 mil shares, which Kinh Do Binh Duong JSC (KDC’s subsidiary) bought in Nov 2012. PHS's target price is offering 14% potential upside from the current level of VND45,400. Therefore, PHS place PHS's OVERWEIGHT call on this stock with target price set at VND51,800.
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