SZC [OUTPERFORM +17.5%] - Accelerated IP land sales to compensate for high leverage

- We maintain our OUTPERFORM rating for SZC and raise our target price (TP) by 1.7% to VND60,000/share. - Our higher TP is mainly thanks to (1) our more positive forecasts for SZC’s IP land sales in 2022-2025F and (2) a higher target P/B of 2.7x vs previo