Analysis Reports

We cut our 1-year target price by 3.3% to VND37,700/share, mainly due to (1) lowering our target P/E from 8.0x to 7.0x to reflect the high interest rate environment and (2) rolling forward our target price to mid-2027. However,...

QTP reported Q2/2026 results, posting revenue of VND3,625 bn, +27% YoY, and NPAT of VND327 bn, +72% YoY. For 1H2026, NPAT reached VND524 bn, +44% YoY, equivalent to 163% of the company’s target and 143% of our 2026 forecast....

NTC recorded positive 2Q2026 profit, mainly driven by a sharp increase in financial revenue. However, 1H2026 profit still saw a slight YoY decline, primary due to an accounting change for industrial land lease revenues from one-off recognition to annual...

PNJ stock hit its floor limit for a second consecutive session – following a few days of diminished volatility – given concerns on heightened liquidity pressure after the company announced a temporary revision to its product buy-back policy. Accordingly,...

OVERVIEW According to FTSE Russell’s FAQ on Vietnam’s market upgrade, published in April 2026, Vietnam will be officially reclassified as a Secondary Emerging Market during the September 2026 review. The key updates are summarized below: Key timeline: The list...

PNJ held a meeting to give quick update about the company’s business operations following news that director of PNJ’s subsidiary P-Lab (PNJ-Lab) was arrested for his infraction in diamond certification. Key points as follows: This stems from an individual’s...