External broker reports(aggregated public sources), Vietcap

Vietcap

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We cut our target price (TP) for FPT by 4% to VND116,600/share but upgrade our rating to BUY from OUTPERFORM as the stock price has decreased ~10% over the past two months. </li><li>Our lower TP reflects (1) a 1% lower 2026F NPAT-MI forecast and (2) our 15% lower in-house FRT valuation (see our Update Report, published September 3, 2025), which outweigh the positive impacts of rolling our TP horizon forward to end-2026.</li><li>FPT’s global IT signed revenue has accelerated since July 2025 following reduced uncertainties caused by US reciprocal tariffs.</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 cut our target price (TP) for FPT by 4% to VND116,600/share but upgrade our rating to BUY from OUTPERFORM as the stock price has decreased ~10% over the past two months. Our lower TP reflects (1) a 1% lower 2026F NPAT-MI forecast and (2) our 15% lower in-house FRT valuation (see our Update Report, published September 3, 2025), which outweigh the positive impacts of rolling our TP horizon forward to end-2026.FPT’s global IT signed revenue has accelerated since July 2025 following reduced uncertainties caused by US reciprocal tariffs.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.

FPT [BUY +22.6%] - Global IT Recovery from 2026F to Lead Medium-Term Growth - Update

FPT Corp

FPT [BUY +22.6%] - Global IT Recovery from 2026F to Lead Medium-Term Growth - Update