Initial Coverage HPG March 2023 (English Version)
Initial Coverage HPG March 2023 (English Version)
We recommend a BUY for HPG stock with one-year target price of VND25,060 per share (an upside of 21.1% compared to March 28, 2023) based on the following factors: (1) Steel industry hit a bottom in 4Q 2022 and 1Q 2023, and is predicted to recover from 2Q 2023 thanks to global steel prices rise in early 2023 and recovering domestic and export demand; (2) We expect HPG restart all 4 blast furnaces in May 2023; (3) Profit margin is likely to improve as the company is desired to reverse the provision already set aside in 2022.
Báo cáo liên quan
Tin tức liên quan
Xem tất cảBạn cần tư vấn bởi chuyên gia?
