- We maintain our BUY rating for HDB but decrease our target price (TP) by 5.4% to VND21,000/share mainly due to a 4.5% decrease in our aggregate 2023-2027F NPAT-MI (-32.0%/+35.5%/-7.2%/-5.7%/-4.2% for 2023/24/25/26/27F, respectively). - Our 2023F NPAT-MI