TCM [MARKET PERFORM +9.6%] - Higher sales expected to offset drop in margins - Update
  • 31 May 2019
  • Company Research
We maintain our MARKET PERFORM rating on TCM and slightly raise our target price (TP) 1.1% to VND28,800, resulting in a projected TSR of 9.6%. We raise our TP as we increase our fabric and garment revenue assumption by 12% in aggregate over 2019-2023F, ba