Analysis Center

IDICO CORPORATION – JSC (IDC VN) FY2024 business result was perfectly in line with our forecast. Adjust our 2025 PBT down by 16% to VND2.3 trn (-23% YoY) and YE2025 target price by 3% to VND65,400/share mainly due to...

BINH SON REFINING AND PETROCHEMICAL JSC (BSR VN)  BSR announced its Q4/2024 financial results with net loss of 89 billion VND (compared to NPAT of 2,406 billion VND in the same period last year), lower than our expectations. For...

VINHOMES JSC (VHM VN) Strong growth in 4Q2024 result was driven by 2 bulk sales transactions at Vinhomes Ocean Park 3. Flat 2024 result was in line with our forecast. Adjust 2025 NPAT down by 10% to VND33.8 trn...

VIETNAM DAIRY PRODUCTS JSC (VNM VN) The company reported a decline of 0.9% YoY in revenue and 8.7% YoY in 4Q2024, lower than our projections. Although a BUY recommendation is maintained, we revise our target price down by 12%...

COTECCONS CONSTRUCTION JSC (CTD VN) CTD (Fiscal Year (FY): 01/07/2024 – 30/06/2025) achieved robust growth in the first two quarters of the new fiscal year, propelled by the resurgence in construction activities, especially the industrial construction segment, and enhanced...

DEO CA TRAFFIC INFRASTRUCTURE INVESTMENT JSC (HHV VN) HHV’s 4Q2024 and 2024 business results were positive, aligning with ACBS’s forecasts. Keep 2025 forecast and YE2025 target price nearly unchanged at VND16,000/share, upsize 27.5%. HHV announced its positive 4Q2024 business...