KBC [OUTPERFORM +19.7%] - IP land sales remain solid; UA sales tracking slower - Update
  • 23 Nov 2018
  • Company Research
We reiterate our OUTPERFORM rating for KBC and revise up our target price 8% to VND14,200, implying a projected TSR of 19.7%, inclusive of a 7.9% dividend yield. We revise up our target price to mainly reflect accelerated industrial park (IP) land sales f