VPB – Positioned for re-rating in FY21F – Update
- We forecast an EPS CAGR of 16% over FY20-22F, driven by strong credit growth and NIM expansion.
- Reiterate Add with a higher target price of VND35,000, on FY21F P/BV target of 1.4x and lower cost of equity.
|
Market Price
|
Target Price
|
Dividend Yield
|
Rating
|
Sector
|
|
VND27,700
|
VND35,000
|
0%
|
ADD
|
FINANCIALS
|
Please follow this link for the full report
You Might Be Interested
Company Note
76
MWG plans for FY24 revenue and net profit of VND125tn/VND2.4tn, respectively, increases of 6% yoy and 14 times compared to FY23. According to management, BHX will begin to record profit in 1Q24 and targets to reach net profit of VND1tn-VND2tn…
Company Note
52
We maintain our Hold rating with 11.9% upside and a 0.0% dividend yield. We increase our TP by 11.0% while the stock price has increased 5.6% since our last report. The main drivers of our recommendation are the decline in…
Company Note
55
We maintain our ADD rating with 50.2% upside. We decrease our TP by 22.3% while the share price has increased 8.5% since our last report. The main driver of our TP change is that we apply a 40% discount rate…
VI
EN
JA
ZH
