HSG [OUTPERFORM +17.5%] - HRC price correction to weigh on remainder of FY2022 - Update

• 19 Aug 2022
• Company Research

- We trim our target price by 2% to VND24,800/share for HSG while maintaining our OUTPERFORM rating. - Our 2% lower target price is driven by 1) our 16% decrease of aggregate FY2022-2026F NPAT-MI as we forecast a lower input – output spread will weigh on