REE [BUY +44.6%] - Near-term headwinds, forecasting strong recovery in 2021 - Update
  • 26 May 2020
  • Company Research
We maintain a BUY rating on REE as valuations are attractive on a projected 2020 PER of 6.7x and PBR of 0.9x against a robust 2020-2024F NPAT-MI CAGR of 16.9%, based on our forecasts. We lower our target price by 1% to VND45,400/share as a 4% cut in cumul