VNDIRECT Consolidated Financial Statements Q3 2022

We maintain our ADD recommendation, with 59% upside. We decreased our TP by 23% to VND102,300, mostly due to the impact of the 170 million bonus share issuance. Financial Highlights In 1Q26, PNJ reported total revenue of VND17tn (USD651bn), a…

We reiterate our ADD rating with upside of 27% and a dividend yield of 2%. We lower our TP by 19% due to lower FY26-27 EPS forecasts after updating our assumptions for the COD/CCA resolution mechanism at solar power plants…

GAS set a relatively conservative 2026 business plan, targeting PAT to decline 22.2% YoY, reflecting management’s cautious view amid continued volatility in the global market. 1Q26 PAT grew 9% YoY, mainly driven by higher estimated dry gas selling prices and…