Analysis Center

HOA PHAT GROUP JSC (HPG VN) HPG’s 3Q2025 and 9M2025 results sustained strong growth, broadly in line with ACBS forecasts. The operation of Dung Quat 2 plant in 1Q2025 and 3Q2025 is expected to be a key earnings catalyst...

NAM LONG INVESTMENT CORPORATION (NLG VN) Positive 3Q2025 and 9M2025 business results thanks to a higher number of delivered units. Keep our 2025 forecast unchanged. We expect in 4Q2025 NLG will record NPAT of around VND350 bn from a...

We raise our target price by 12% to VND 57,000/share but downgrade our recommendation from BUY to OUTPERFORM as the stock price has increased by 27% since the previous report. Our target price is based on target multiples of...

BMP is a leading enterprise in the construction plastic industry in Vietnam. BMP currently holds a 27% market share nationwide and 50% market share in the South. The company has recorded stable business results in recent years, mainly due...

NAM TAN UYEN INDUSTRIAL PARK JSC (NTC VN) NTC has moved from UpCOM to HSX on 10/18/2025 with the reference price of VND161,470/share. The company owns the second largest IP land bank amongst the listed IP companies with 16...

IDICO CORPORATION – JSC (IDC VN) The 3Q2025 business results were better than our forecast given higher industrial park area delivered than expected. We revised up our 2025 earnings forecast by 20% and rolling forward target price to VND51,900/share...