Research Center
Quay lại

TCM [M-PF +6.1%] - Initiation

We initiate coverage on TCM with a MARKET PERFORM recommendation. While the company is well positioned to ride the long-term development of Vietnam textile exports with a 18.3% five year forecasted EPS CAGR, this appears to have been priced into the company’s 13x TTM P/E. Vietnam’s textile exports are set to boom on the back of TPP and recently concluded Free Trade Agreements (FTAs).