HND [OUTPERFORM +16.2%] - Solid dividend yield despite expected earnings weakness - Update
  • 2021-02-08T15:59:10
  • Company Research
We downgrade HND from BUY to OUTPERFORM as the company’s stock price has rallied 10% in the last three months, pulling the total stock return in relation to our target price (TP) to less than 20%. We believe HND is still one of the best performing coal-fired power companies in Vietnam thanks to its cost competitiveness.