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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.

Thematic (Sector/Industry)

Vietnam Materials / Thematic (Sector/Industry)

NKG is facing several barriers in order to achieve earning growth in 2018. The rapid hike of HRC price in 1H2018 has put huge pressure on NKG’s profitability. Moreover, harsh competition in the domestic coated steel market also affected its gross margin and caused rising interest expense, further lowering its net margin. These short-term pessimistic catalysts have been depressing the share price, while the long-term advantages regarding output capacity and selling ability remain the positive elements for the business.Based on the intermediate term potential of the company, we made several adjustments in our forecast including volume growth and gross margin to evaluate NKG’s profitability in 2018.  NKG price is adjusted with a target of VND 18,000/share, total return is estimated at 42% from the closing price on August 30th, 2018 and we recommend to BUY the stock.

NKG is facing several barriers in order to achieve earning growth in 2018. The rapid hike of HRC price in 1H2018 has put huge pressure on NKG’s profitability. Moreover, harsh competition in the domestic coated steel market also affected its gross margin and caused rising interest expense, further lowering its net margin. These short-term pessimistic catalysts have been depressing the share price, while the long-term advantages regarding output capacity and selling ability remain the positive elements for the business.Based on the intermediate term potential of the company, we made several adjustments in our forecast including volume growth and gross margin to evaluate NKG’s profitability in 2018.  NKG price is adjusted with a target of VND 18,000/share, total return is estimated at 42% from the closing price on August 30th, 2018 and we recommend to BUY the stock.

[Result Update] NKG - Difficulties Are Temporary