VTP [BUY +37.0%] - Bright delivery service outlook despite fierce competition - Update
  • 18 Nov 2019
  • Company Research
We reiterate BUY on VTP as we maintain our optimism on its ability to ride on the breakneck growth of e-commerce in Vietnam.We trim our target price by 8%, mainly as we cut our 2019F-2022F EPS CAGR by 4% on average. Our more measured view is premised on r