Notable stocks on May 6

Phu Hung Securities Joint Stock Company (PHS) recommends holding PVD shares of PetroVietnam Drilling and Services Joint Stock Corporation ( PV Drilling) with a target price of VND 31,000/share.

At the recent shareholders' meeting, PV Drilling approved the business results for 2024 based on the following assumptions: 4 jack-up rigs operating with an average unit price increase of 10% - 15% compared to 2023, 1 TAD rig operating throughout the year and 1 onshore rig operating for 4 months along with 0.5 jack-up rigs rented.

Based on the assumption that the average rental price of jack-up rigs will increase by 30%, PHS believes that PV Drilling's net revenue and profit after tax in 2024 will reach VND7,287 billion and VND780 billion, respectively, up 25.5% and 42.9% over the same period.

PVD stock price fluctuations in the past 3 months, currently priced at VND 29,800/share Source: Fireant

In addition, PV Drilling's ambitious new investment plan has just been approved with a total new investment in 2024 estimated at over VND 2,438 billion, including a new investment in a jack-up rig worth VND 2,115 billion.

PHS assessed that this plan is suitable for actual conditions when the upstream has gradually warmed up with many offshore projects being started/restarted, typically Lac Da Vang, Ca Tam and the super project Lot B - O Mon.

On that basis, PHS recommends holding PVD shares with a target price of VND 31,000/share.

MB Securities Joint Stock Company (MBS) recommends positive DGC shares of Duc Giang Chemical Group Joint Stock Company with a target price of VND 136,600/share.

In the first quarter of 2024, Duc Giang Chemical Group Corporation's revenue and profit decreased by 4% and 14% respectively compared to the same period last year due to a sharp decrease in phosphorus prices.

In 2024-2025, MBS expects the company's net profit to increase by 15.6% and 27.1% respectively over the same period due to the recovery in semiconductor demand, additional contributions from the Phosphorus 6 plant and the Nghi Son Caustic Soda project coming into operation, expected to reach 1,200 billion in revenue in 2025.

DGC stock price fluctuations in the past 3 months, currently priced at 119,000 VND/share Source: Fireant

With profit growth momentum and long-term prospects guaranteed by the Caustic Soda and Aluminum projects, MBS recommends DGC shares positively with a target price of VND 136,600/share.

Mirae Asset Securities Joint Stock Company recommends buying BIC shares of Vietnam Joint Stock Insurance Corporation with a target price of VND 37,500/share.

In the first quarter of 2024, the insurance business of BIDV Insurance Corporation continued to grow, up 19.8% over the same period. Thanks to that, the corporation recorded a net profit of more than VND 107 billion, up more than 34% over the same period.

The corporation's financial revenue in the quarter also grew 49.4% over the same period last year, coming from three segments: deposit interest, bond investment interest, promissory notes and treasury bills, and securities trading.

BIC stock price fluctuations in the past 3 months, currently priced at VND30,450/share. Source: Fireant

According to Mirae Asset, although the securities portfolio worth VND 393 billion of the Vietnam Joint Stock Insurance Corporation for Investment and Development of Vietnam was not disclosed in the first quarter of 2024, based on the portfolio at the end of 2023, it can be seen that this corporation is also focusing on leading enterprises with good business factors such as FPT, VCB, ACV (accounting for over 50% of the portfolio). That will bring high efficiency to the results of the corporation.

In the market, BIC shares have recovered quickly after hitting a bottom in the price range of 27,000 - 28,000 VND. The short-term and medium-term uptrend is positive.

Therefore, Mirae Asset recommends buying BIC shares with a target price of VND37,500/share and cutting losses if the stock is below VND29,000/share.

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

Source: https://nld.com.vn/nhung-co-phieu-dang-chu-y-ngay-6-5-196240505185933948.htm