Analysis Center

PETROVIETNAM GAS JSC (GAS VN) GAS announced its Q3/2024 business results with NPAT of VND2,578 billion (+7.2% YoY), which is in line with our expectations. Accumulated in 9M2024, GAS’s NPAT decreased by 5.3% to VND8,538 billion, completing 147% of...

VIETNAM BANK FOR INDUSTRY AND TRADE (CTG) We maintain an OUTPERFORM recommendation for CTG with a target price of VND40.600 per share, based on target P/E and P/B of 9.6x and 1.3x, respectively. Business results have significant room for...

KHANG DIEN HOUSE TRADING AND INVESTMENT JSC (KDH VN) A decline in 3Q2024 and 9M2024 results was mainly due to a lower number of low-rise units delivered at Classia project. Keep our 2024 forecast unchanged as we expect the...

REE CORPORATION (HoSE: REE) REE reported +3.4% YoY in revenue to VND2,029 bn in Q3/2024, accompanied by  +6.9% YoY in NPATMI to VND480 bn. Cumulative 9M2024, NPATMI reached VND1,316 bn, -21.8% YoY, fulfilling 55% of the 2024’s company target...

PHU NHUAN JEWELRY JSC (PNJ VN) Although a positive rebound in the retail segment kept propping up the company’s sales growth regardless of a slump in the 24K gold segment in 3Q2024, we revised down 2024-2025 EBT projections by...

IDICO CORPORATION – JSC (IDC VN) Business result in 3Q2024 was higher than our expectation, thus we adjust 2024 revenue up by 10% and PBT up by 6%. Our YE2025 target price slightly increased by 2% to VND67,700/share mainly...