We maintain a BUY rating for VRE while raising our target price by 8% to VND39,000/share as 26%/16% cuts to our 2021F/2022F NPAT-MI forecasts are more than offset by 1) rolling our target price horizon to end-2022 and 2) incorporating the projected contribution of identified pipeline mall projects expected to be launched in 2025 and 2026.

Powered by Froala Editor