Which stocks are worth watching on May 10?

Maybank Securities Company Limited recommends buying HPG shares of Hoa Phat Group Joint Stock Company with a target price of VND 34,300/share.

In the first quarter of 2024, Hoa Phat recorded revenue of VND 30,852 billion (up 16% over the same period) while profit after tax reached VND 2,869 billion (up 649% over the same period).

In the second quarter, Maybank expects the group's business results to improve further thanks to higher selling prices during the peak season.

According to Maybank, China's push for steel exports may raise some concerns in the market about Hoa Phat's prospects. However, this will have a small impact as domestic demand is recovering and this will be the main driver for Hoa Phat's growth.
Released in 2024.

Therefore, any share price decline stemming from such concerns would be an opportunity to accumulate HPG shares. In addition, FTSE’s upgrade of Vietnam’s potential stock market to emerging market status remains a strong catalyst for price appreciation in 2025.

In the market, HPG stock liquidity in recent sessions is higher than the 20-day average. The MACD indicator is increasing rapidly, has returned above the signal line and is close to 0. The momentum indicators are operating at a fairly average level.

On that basis, Maybank recommends buying HPG shares with a target price of VND34,300/share and stopping loss if this stock falls to VND28,700/share. HPG is currently priced at VND30,450/share.

SSI Securities Corporation recommends positive stock PVT of PetroVietnam Transportation Corporation with target price of VND 30,000/share.

In the first quarter of 2024, PetroVietnam Transportation Corporation achieved strong growth with revenue increasing by 24% over the same period and pre-tax profit increasing by 28% over the same period, reaching VND 386 billion.

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SSI said its core shipping business continued its strong growth momentum from last year, with revenue up 26% in the quarter. Capacity utilization in the quarter was also notable, rising 31% year-on-year thanks to 12 new vessels being commissioned by 2023.

The floating storage, processing, and offloading (FPSO) segment remained stable as PetroVietnam Transportation continued to sign contracts with Dai Hung field. During the quarter, this segment recorded relatively stable profits, reaching VND58 billion.

In 2024-2025, SSI expects pre-tax profit growth of Oil and Gas Transport to reach 18.7% and 17% respectively compared to the same period last year (excluding extraordinary profits from ship liquidation).

Therefore, SSI recommends PVT stock with a target price of VND30,000/share. Currently, this stock is priced at VND28,950/share.

ACB Securities Company Limited (ACBS) recommends positive MBB shares of Military Commercial Joint Stock Bank (MB Bank) with a target price of VND 25,600/share.

ACBS said that in 2024, MB Bank plans to increase its profit by only 6% to 8%, despite the target of increasing credit scale by 20-25%/year.

However, this securities company assessed that this modest profit growth plan is reasonable in the context that the net profit margin for the whole year of 2024 is forecast to decrease by 0.42 percentage points, to 4.45% and the risk of bad debt still exists.

According to ACBS, MB Bank's non-interest income this year is expected to grow by 16.2% thanks to the recovery of service activities, foreign exchange trading, government bond trading and off-balance sheet bad debt collection.

In addition, operating expenses will continue to be tightly controlled and flat in 2024. The cost-to-income ratio is forecast to decline to 27.7% in 2024.

However, forecasted provisioning costs may increase by 80.6% to accommodate for emerging bad debts and strengthen the currently thin provisioning buffer (80% bad debt coverage ratio by the end of Q1/2024).

In 2024, ACBS forecasts that MB Bank's pre-tax profit could reach VND28,271 billion, an increase of 7.5% compared to 2023.

Based on the above factors, ACBS recommends MBB stock with a target price of VND25,600/share. Currently, this stock is at VND22,650/share.

( The analysis and recommendations of securities companies are for reference only ).

Source: https://nld.com.vn/co-phieu-nao-dang-chu-y-ngay-10-5-196240509222246005.htm