Research Center
Quay lại

JVC - BUY - Target price raised on management’s strong medical device sales guidance for 2015 - Update

We reiterate our BUY recommendation but revise our target price upwards from VND21,800 to VND26,100 (upside 29.2%) thanks to better than expected results for calendar year 2014 and strong guidance from management for medical devices sales for financial year 2015. We increased FY15 EPS forecast up by 20% to VND3,266 based on management’s guidance for medical devices sales of VND800-900bn vs. our original forecast of VND570bn.