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Tóm tắt:
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Given the above expected profit, BCI’s 2014 EPS will be about VND1,307/share, rather closed to our forecast in the Q1/2014 update report issued in June. In short-term, BCI still has one supporting information about the 10% cash dividend for 2013 not yet paid. The company is balancing its financial status to complete this dividend payment in 2015. In mid-term perspective, we still hold neutral viewpoint when perceiving no apparent changes since June/2014. At the current market price of VND21,500/share, our recommendation on BCI share has been revised down from the OUTPERFORM in June to NEUTRAL due to unattractive expected returns and weak short-term information supporting its stock price.
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