Analysis Center

The US Federal Reserve officials voted to raise interest rates by three-quarters of a percentage point (75bps) and signaled four more agressive rate hikes toward yearend to combat inflation which is running at a 40-year high (+8.6% YoY in...

HPG’s longer term outlook remains positive as capacity expansion has begun, however the company is unlikely to repeat last year’s stellar results as short term margin pressures mount and capacity limitations restrict growth. We maintain our BUY recommendation with...

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...

KINH BAC CITY DEVELOPMENT HOLDING CORPORATION JSC (KBC VN) Adjust down our 2022 forecasts given low 1Q2022 results and ongoing market challenges. Reiterate our Buy rating with a lower target price of VND69,998. Kinh Bac’s 1Q2022 result was below...

NO VA LAND INVESTMENT JSC (NVL VN) We adjust our whole year 2022 forecast to reflect subdued 1Q2022 results amid market challenges and COVID-19 related delays. Reiterate our Hold rating with target price of 83,058  NVL is the second-biggest...

HPG held its AGM on May 24th 2022 with following highlights: The company set 2022 targets at: 160,000 bil.VND  of revenue (+6.7% YoY) and net profit in a range of 25,000 to 30,000 bil.VND (-13% to -27.5% YoY). The...