VJC [BUY +23.7%] - International expansion a new growth engine - Update
  • 21 Aug 2019
  • Company Research
We maintain our BUY rating and raise our target price (TP) 4.4% to VND156,900. We raise our TP as we increase our EBITDAR estimate for 2019 by 11.7% as we include VND1.8tn of amortization for long-term maintenance prepayment. This is partially offset by o