External broker reports(aggregated public sources), Vietcap

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li style="text-align: justify;">We raise our target price (TP) for DPG by 10% to VND55,200/share and upgrade our rating from OUTPERFORM to BUY.</li><li style="text-align: justify;">Our higher TP is due to a 6% increase in our aggregate NPAT forecast, with respective changes of +13%/+8%/+3%/+8%/+4% for 2025/26/27/28/29F.</li><li style="text-align: justify;">This is mainly due to a 1) 15% higher aggregate profit from the energy segment as we expect 8% higher aggregate hydropower sales volume and 2) 8% higher profit from the construction segment following higher-than-expected newly-signed contract value in 8M 2025, which outweigh (3) slightly lower real estate earnings due to higher financial expenses.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We raise our target price (TP) for DPG by 10% to VND55,200/share and upgrade our rating from OUTPERFORM to BUY.Our higher TP is due to a 6% increase in our aggregate NPAT forecast, with respective changes of +13%/+8%/+3%/+8%/+4% for 2025/26/27/28/29F.This is mainly due to a 1) 15% higher aggregate profit from the energy segment as we expect 8% higher aggregate hydropower sales volume and 2) 8% higher profit from the construction segment following higher-than-expected newly-signed contract value in 8M 2025, which outweigh (3) slightly lower real estate earnings due to higher financial expenses.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DPG [BUY +27.6%] - Energy, Construction Segments to Boost Valuation Further - Update

Dat Phuong Group

DPG [BUY +27.6%] - Energy, Construction Segments to Boost Valuation Further - Update