VHM [OUTPERFORM +19.9%] - Upbeat earnings growth on course for 2019F - Update
  • 2019-08-26T21:42:32
  • Company Research
We maintain our target price for VHM at VND102,000/share, but change our rating to OUTPERFORM from BUY as the stock price has increased by 3% in the last five weeks. We maintain our 24% EPS CAGR forecast over 2018-2021F, mainly on margin improvement and stronger residential handovers that are largely backed by mega Vinhomes developments.