HDB [MARKET PERFORM +7.4%] - HDB shaking off parent bank shackles as NIM improves - Update
  • 20 Aug 2019
  • Company Research
We raise our target price by 2.9% to VND28,300 and maintain our MARKET PERFORM rating with a projected TSR of 7.4% as we lift our 2020/21/22 net income forecasts by 7.1%/3.5%/2.2% and roll our valuation date forward to mid-2020. Our earnings forecasts inc