TLG [BUY +69.8%] - Solid outlook, attractive valuation - Update
  • 20 Nov 2019
  • Company Research
We reiterate our BUY rating on TLG while raising our target price by 2% to VND67,600/share as we roll-over our model and also apply a higher target P/E multiple of 15.9x from 15.3x previously.We trim our 2019F NPAT-MI forecast by 4% to VND335bn (USD14.6mn