Analysis Center

VINHOMES JSC (VHM VN) Reiterate our Buy rating with target price of VND98,385 given strong pre-sales forecast in 2022 VHM announced 1Q2022 result with net revenue of VND8.9trn (-31% YoY) and PAT of VND4.7trn (-14% YoY), equivalent to 12%...

VIETNAM TECHNOLOGICAL AND COMMERCIAL BANK (TCB) We reiterate our BUY recommendation with a target price of VND63,100 per share. TCB’s long-term outlook remains positive, although the Government’s actions to tighten corporate bond issuances, which could negatively impact TCB’s fee...

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VINH HOAN CORPORATION JSC (VHC VN) Taking advantage from increasing global demand and shortage of supply from Russia VHC posted an outstanding 1Q2022. We reiterate our BUY recommendation with a target price of 112,300 VND/share (27.1% expected total return)....

Long term outlook remains positive while short term volatility may continue Vietnamese stocks have been experiencing a correction in recent weeks due to a confluence of events, both domestic and exogenous, that have shaken investor confidence and turned sentiment...

For the long-term outlook, notwithstanding the recent market correction, we believe that the fundamentals of both the Vietnamese economy and stock markets are well positioned for strong long term growth despite short term volatility. Growth in the overall participation...