DXG [BUY +48.7%] - Strong finances bolster DXG’s consolidation potential - Update
We reiterate a BUY rating for DXG with a target price of VND23,200 based on the following:
The mega up trend in mid-range segment is just beginning. Transaction volume has increased 11 times in the last three years, corresponding to a CAGR of 120%. Future growth is sustainable due to an emerging middle class and the rising popularity of mortgages.