BMP [OUTPERFORM +15.6%] - 2024F profit to slide from record high; high cash dividend yield

- We maintain our OUTPERFORM rating for BMP and raise our target price (TP) by 28% to VND119,100/share. BMP’s share price has rallied 31% over the last two months. - Our higher target price is due to (1) revising up the aggregate 2024-28F NPAT-MI by 19% b