External broker reports(aggregated public sources), Rong Viet Securities

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External broker reports(aggregated public sources)

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Using the discounted cash flow method, we issue the long-term fair value of PNJ stock at VND 92,100, with 2024F P/E of 14.9x.</li><li>Combined with a cash dividend of VND 2,000/share, the total expected return is -7.0%, indicating that the current stock price has fully reflected the company's long-term prospects.</li><li>However, the market may be trading the stock with higher expectations and a greater tolerance for risk.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Using the discounted cash flow method, we issue the long-term fair value of PNJ stock at VND 92,100, with 2024F P/E of 14.9x.Combined with a cash dividend of VND 2,000/share, the total expected return is -7.0%, indicating that the current stock price has fully reflected the company's long-term prospects.However, the market may be trading the stock with higher expectations and a greater tolerance for risk.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNJ - Despite Strong Growth, Potential Has Already Been Priced In

Phu Nhuan Jewelry

PNJ - Despite Strong Growth, Potential Has Already Been Priced In