PTB [OUTPERFORM +14.4%] - Core business earnings to rebound - Update
  • 2021-02-03T20:55:14
  • Company Research
We downgrade our rating from BUY to OUTPERFORM following a 16% share price rally over the last three months while we cut our target price (TP) by 6%. That said, we maintain our positive view on PTB’s extensive stone mine portfolio, positive prospects of its new quartz business and long-term growth of Vietnam's wooden furniture export industry and domestic car ownership.