PTB [MARKET PERFORM +7.1%] - Gradual demand recovery, sizeable impact from Noble House - Update
  • 29 Nov 2023
  • Company Research
- We downgrade our rating for PTB from BUY to MARKET PERFORM as we cut our target price by 7% to VND59,700/share mainly because we reduce our 2023F/24F/25F NPAT-MI by 19%/20%/10%, respectively. We expect a slower recovery in demand as well as bad debt pro