BVH [OUTPERFORM +10.1%] - Lower valuation on decreased financial income forecast

- We lower our target price (TP) by 4.9% to VND62,600/share and downgrade our rating for BVH from BUY to OUTPERFORM as the company’s share price has increased ~13.1% over the last three months. - Our lower TP is due to (1) 10.5%/9.8% decreases in our proj