HT1 [UNDERPERFORM -12.9%] - Expect solid rebound in 2022 but valuation expensive - Update 25 Oct 2021 Company Research We downgrade HT1 to UNDERPERFORM from OUTPERFORM despite raising our target price by 20% to VND20,000/share as HT1’s share price had rallied 61% over the last three months. Powered by Froala Editor