Analysis Center

We raise our 12-month target price by 13.7% to VND 50,000/share, mainly driven by an 8% upward revision in EPS and the roll-forward of the target price to mid-2027. Our target price is based on a target P/E of...

Although the company reported stunning EAT growth of 48% YoY driven by a strong sales jump and heightened gross margin in 1Q2026, we revise 2026 EAT projection down by 15% considering potential margin compression in 4Q2026 in view of...

Q1/26 earnings of the banking sector remained resilient despite macro volatility. Specifically: – Q1/26 PBT of 27 listed banks grew 14.2% y/y and declined 3.1% q/q. Banks under our coverage delivered stronger growth of 24.9% y/y, supported by solid...

Gemadept reported strong Q1/2026 results, with NPAT reaching VND650 billion (+23.2% YoY), fulfilling 26% of the company full-year target and 25% of ACBS’s forecast. FY2026 NPAT is expected to maintain solid growth of 15.5% YoY, supported by higher handling...

In 2026, high crude oil prices due to the Middle East conflict are expected to have a divergent impact on the domestic oil and gas industry: The high oil prices caused by the Middle East conflict have had a...

1Q2026 business results were unfavorable due to lower handovers of industrial park (IP) and residential land compared to the same period last year. However, we maintain our full-year 2026 forecast, expecting IP handovers and profits from JVs and associates...