Analysis Center

We raise our 12-month target price by 16.5% to VND80,700/share, mainly driven by upward revisions to our 2026F-2027F EPS forecasts of 21% and 17%, respectively, reflecting our expectations of a higher NIM and lower credit costs. We upgrade our...

The 2Q2026 and 1H2026 business results were unfavorable but aligned with our forecasts. The decline in 2Q2026 was mainly driven by a higher decrease in revenue compared to SG&A expenses and higher financial expenses. ACBS expects handovers in the...

For the first six months of 2026, accumulated revenue reached VND134 trillion (+85% YoY, meeting 90% of the annual plan and 72% of our forecast), while net profit stood at VND476 billion (doubling year-on-year, meeting 72% of the annual...

PVT delivered strong 2Q2026 earnings, driven by its shipping segment, which continued to benefit from elevated freight rates and contributions from its expanded fleet. We expect this growth momentum to continue in 2H2026, supported by time-charter contracts secured at...

Q2/2026: Revenue reached VND20,308 bn, +116% YoY, while NPAT totaled VND3,708 bn, +387% YoY, significantly exceeding our forecast. 6M2026: NPAT reached VND5,008 bn, +306% YoY, equivalent to 446% of the company’s target and 166% of ACBS’s forecast for 2026....

HOA PHAT GROUP JSC (HPG VN) HPS’s 2Q2026 and 1H2026 earnings exceeded our expectations, primarily driven by stronger-than-expected performance in the steel business and a one-off financial gain from the divestment of the Pho Noi real estate project. Excluding...