External broker reports(aggregated public sources), Vietcap

Vietcap

We specialize in consulting both individual and institutional clients, providing them with effective financial solutions that are tailored to their specific needs.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We raise our target price for HDG by 1.0% to VND30,900/share and reiterate our BUY rating.</li><li>Our higher TP is primarily driven by our (1) 40% higher valuation for Charm Villas phase 3 (on a 20% higher NPAT forecast and quick cash collection from buyers within 30-45 days), and (2) a 26% higher valuation for new wind capacity due tohigher assumed prices.</li><li>These factors outweigh (3) a 69% valuation cut for Infra 1 solar farm (due to our assumed 50% price cut).</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 for HDG by 1.0% to VND30,900/share and reiterate our BUY rating.Our higher TP is primarily driven by our (1) 40% higher valuation for Charm Villas phase 3 (on a 20% higher NPAT forecast and quick cash collection from buyers within 30-45 days), and (2) a 26% higher valuation for new wind capacity due tohigher assumed prices.These factors outweigh (3) a 69% valuation cut for Infra 1 solar farm (due to our assumed 50% price cut).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.

HDG - Strong Earnings Driven by Charm Villas, Supportive Policies

Ha Do Group JSC

HDG - Strong Earnings Driven by Charm Villas, Supportive Policies