Analysis Center

We cut our target price by 7.7% to VND 69,300/share by end-2026, mainly due to lowering target P/E from 18x to 16.5x to reflect a slower profit growth outlook of 6.1% in 2026, which largely offsets the positive impact...

We raise our target price by 4.7% to VND29,000 per share by end-2026 and upgrade from NEUTRAL to OUTPERFORM, driven by a 10.5% decline in the share price since our previous report. 2026’s PBT is expected to grow by...

COTECCONS CONSTRUCTION JSC (CTD VN) CTD delivered a solid Q3/2025 earnings performance, primarily driven by the divestment of the Emerald 68 project. For FY2026, we forecast revenue of VND 31,308 bn (+26% YoY) and parent-company net profit of VND728...

We maintain our target price of VND 20,200 per share to end-2026, based on a target P/E of 8x and P/B of 1.3x. However, as VIB’s share price has declined 5.4% since our previous report, we upgrade to OUTPERFORM,...

In Q3.2025, the company achieved revenue of VND 35,690 billion (+41.7% YoY), and net profit reached VND 2,612 billion (+1% YoY). In the first 9 months of 2025, the company achieved revenue of VND 91,445 billion (+16% YoY), and...

We raise our target price by 2% to VND 39,000 per share by end-2026, based on (1) a target P/E of 8.x and (2) an additional revaluation gain of VND7,400 per share from the IPO and listing of TCX...