Sunday, October 24, 2021 3:28:42 AM - Markets open
VN-INDEX 1,389.24 +4.47/+0.32%
HNX-INDEX 391.21 +2.75/+0.71%
UPCOM-INDEX 100.36 +0.59/+0.59%
MSN: Credit Suisse, HSC, Mirae Asset raise target price of MSN share to over $5.63
Vietnam News - 7/8/2021 3:42:22 PM
 (0 ratings. You must sign in to rate.)
 In a note on July 7, Credit Suisse raised the target price for the Masan Group share, MSN, to VNĐ137,000 (US$5.93).
Earlier, the Ho Chi Minh Securities Corporation and Mirae Asset had also hiked target prices to VNĐ134,000 ($5.81) and VNĐ131,000 ($5.68).
On Wednesday, MSN rose to VNĐ116,000 ($5.02).
The expected 2021 financial performance of VinCommerce (VCM) and the growth potential of the offline-to-online platform are said to be reasons for analysts to increase MSN's short-term target price.
On July 1, Masan Group announced the acquisition of The CrownX stakes from minority shareholders, increasing its direct and indirect ownership in it from 80.2 per cent to 84.9 per cent.
With The CrownX valued at around $7.3 billion, the transaction was estimated to be worth $343 million.
The Masan management believes this transaction has made optimal use of the company's cash because of its trust in the growth and profit trajectory of The CrownX.
Danny Le, chief executive officer of Masan Group, said: “We will hit a key milestone this year with VinCommerce becoming profitable. We are turning our focus on expansion to build the nation’s number one network while keeping our profit momentum intact. This turnaround gives us confidence to invest big to accelerate our offline-to-online strategy.”
Masan expects VCM’s profits to continue growing after it achieved breakeven earnings before interest and tax (EBIT) in June.
"The management has a path to deliver positive EBIT in the second half of 2021,” Le said.
By opening 300-500 VinMart+ minimarts by year end, Masan is aiming to expand the VCM store network back to 3,000, the number when Masan acquired it.
The new stores are projected to deliver breakeven EBITDA in six to 12 months due to a revamped and more efficient supply chain model, total commercial margin uplift and a winning assortment to drive consumer traffic.
Customers line at a Phúc Long kiosk at a VinMart+ store. — Photo courtesy of Masan
Besides, the store-in-store Phúc Long Kiosk has and will drive traffic and profitability for Vinmart+. By the end of June, around 50 VinMart+ stores have set up Phúc Long kiosks. They expected to generate VNĐ5 million ($216.6) additional sales per day in which VCM has a 20 per cent revenue sharing arrangement.
VCM has a target of opening 1,100 Phúc Long kiosks across Vinmart+ locations by year-end.
The additional revenue per day is expected to enhance EBITDA margins by 4 per cent for each Vinmart+ store with one of them.
Masan's offline-to-online retail platform has also attracted a lot of investment from foreign investors.
In May 2021, a consortium led by Alibaba Group and Baring Private Equity Asia paid $400 million to acquire a 5.5 per cent stake in The CrownX.
Under the deal, VCM will be the grocery retailer of choice on Lazada in Việt Nam, Alibaba’s Southeast Asian e-commerce platform.
Vietnamese consumers will thus be served goods that meet ‘the very best of fresh standards" whether they shop online or at supermarkets/stores.
In April, Masan Group announced that South Korea’s SK Group acquired a 16.26 per cent stake in VCM for a cash consideration of $410 million. The transaction values VinCommerce at $2.5 billion.
The management plans to raise a further $300-400 million at The CrownX in the latter half of the year. — VNS
Read original article here
Newer News
10/11 FUCTVGF2: Thông báo thay đổi giá trị tài sản ròng từ ngày 01/10/2021 đến ngày 07/10/2021
10/11 TCB: Quyết định của HĐQT về việc thay đổi địa chỉ Phòng giao dịch Thường Tín và Phương Mai
10/11 GEG: Nghị quyết HĐQT về việc tái bổ nhiệm chức vụ Tổng Giám đốc
10/11 TDH: Báo cáo thay đổi về sở hữu của cổ đông lớn Công ty Cổ phần Louis Land
10/11 VSC: Báo cáo về ngày không còn là cổ đông lớn Công ty Cổ phần Đầu tư Sao Á D.C
10/11 VSC: Nghị quyết HĐQT về việc đính chính nội dung liên quan đến chuyển nhượng quyền mua cổ phiếu
10/11 VSC: Thông báo giao dịch cổ phiếu của tổ chức có liên quan đến Người nội bộ Công ty Cổ phần Đại lý Vận tải SAFI
10/11 NPM11907: Thông báo về ngày đăng ký cuối cùng thanh toán lãi trái phiếu kỳ 04 (từ và bao gồm ngày 30/04/2021 đến và không bao gồm ngày 31/10/2021)
10/11 NHH: Thông báo về ngày đăng ký cuối cùng tham dự Đại hội đồng cổ đông bất thường lần thứ nhất năm 2021
10/11 VPH: Nhắc nhở tuân thủ quy định công bố thông tin
Older News
08/07 FUEVFVND: Monthly Report June 2021
08/07 FUESSVFL: Monthly Report June 2021
08/07 FUESSVFL: Announcement after exchange trading 06 Jul 2021
08/07 FUESSV50: NAV 06 Jul 2021
08/07 FUESSV50: Basket of component securities 07 Jul 2021
08/07 FUESSV50: Announcement after exchange trading 06 Jul 2021
08/07 FUESSV50: Monthly Report June 2021
08/07 FUESSV30: NAV 06 Jul 2021
08/07 FUESSV30: Announcement after exchange trading 06 Jul 2021
08/07 FUESSV30: Basket of component securities 07 Jul 2021
Newsletter Signup
Top Stories
Transport ministry allows increase of domestic flight frequency from October 21
VIC: Vinfast & Europe's AUTOBEST enter new strategic partnership
Energy stocks benefit from higher oil prices
Vietnam’s GDP up 1.42 percent in nine months
VCS: Vicostone's Q3 pre-tax profit estimated to reach 80% of yearly target
Market Update
Last updated at 3:05:05 PM
VN-INDEX 1,389.24 +4.47/+0.32%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.