Analysis Center

Becamex Infrastructure Development JSC (IJC VN) 2026 Business Plan: IJC has set a cautious business plan for 2026, targeting consolidated revenue of VND2,454 bn (+36% YoY) and net profit of VND541 bn (-9% YoY). During the year, the company...

We raise our 1-year target price by 13.4% to VND 30,000/share and maintain our OUTPERFORM recommendation, mainly due to increasing our 2026 earnings forecast by 12.3%. Our target price is based on a target P/E of 7.0x – equivalent...

2026 OUTLOOK: FLUCTUATIONS BASED ON WARTIME SCENARIOS Under the scenario where tensions de-escalate, we assess that Petrolimex has positive prospects in 2026 driven by: (1) Government directives and proposals for a new petroleum pricing mechanism, (2) predicted 8% annual...

In 2025, REE reported VND2,528 bn in NPATMI, +27% YoY. This result achieved 104% of the company’s plan and 105% of ACBS’s forecast. The strong performance in 2025 was driven by growth across all business segments, particularly in energy...

The residential property market becomes more difficult in 2026 given many challenges: 1. Policy challenges: Restrict credit growth for the property sector Issue ID number for each property product 2. Macroeconomic challenges: Rising interest rate Rising input costs 3....

VIETNAM PROSPERITY JSC BANK (VPB) We reduce our target price by 18,9% to VND30,000 per share, mainly driven by a reduction in our target P/E from 9.6x to 7.0x to reflect a higher interest rate environment and the potential...