MWG - OUTPERFORM - Management energised for aggressive 2015 - Update
  • 2014-12-31T00:00:00
  • Company Research
Target price raised to VND122,500 supported by higher sales CAGR of 18% FY15-19E (up from 11.5%) on the back of more aggressive expansion plan. Our top-line and bottom line forecasts for 2015 trails guidance as we slightly adjusted our GPM and SG&A% assumptions to reflect management’s shift to more value-added offerings to increase store traffic.