SAB [BUY +35.0%] - Excise tax hike to impact sales volume, not profitability - Update
  • 22 Jul 2024
  • Company Research
- We maintain our BUY rating for SAB and raise our target price (TP) by 1% to VND71,000/share. - Our higher TP is driven by a 1% increase in our target P/E from 19.8x to 20.0x. We raise our target P/E as we increase our 2024-2028F aggregate NPAT-MI foreca