TLG [BUY +44.3%] - Strong Q3 2020 sets clear path for recovery in 2021 - Update
  • 13 Nov 2020
  • Company Research
We maintain our BUY rating for TLG while raising our target price by 8% to VND49,000/share mostly because we 1) roll over our DCF-based valuation, 2) apply higher 2021F EPS in our P/E-derived valuation and 3) raise our average for 2020-2024F NPAT-MI by 2%