We lift our TP by 1.3% to VND15,200 and maintain our O-PF rating with a projected TSR of 18.7%, mainly because we increase our 2019 net income forecast to VND2.2tn (+22% YoY, USD94mn), but the lift in TP is minor as we adjust downward our 2020 net income forecast. We adjust our 2019/2020/2021/2022 net income forecasts by 11%/-12%/5%/3%, respectively.