External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We used the discounted free cash flow to the firm (FCFF) method to determine the fair value of Song Hong Garment JSC (MSH VN) stock, with a required rate of return of 13% and assuming 0% long-term growth after 2035.</li><li>We raise our target price for MSH to VND41,800 and maintain our Hold rating.</li><li>Recently, Vietnam’s textile industry benefitted from the difficulties of major rivals.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We used the discounted free cash flow to the firm (FCFF) method to determine the fair value of Song Hong Garment JSC (MSH VN) stock, with a required rate of return of 13% and assuming 0% long-term growth after 2035.We raise our target price for MSH to VND41,800 and maintain our Hold rating.Recently, Vietnam’s textile industry benefitted from the difficulties of major rivals.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Song Hong Garment JSC (MSH VN) - Wider Gross Margin in 3Q25