External broker reports(aggregated public sources), Vietcap

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External broker reports(aggregated public sources)

Equity Bottom-Up

Novaland Investment Group  / Equity Bottom-Up

<ul><li>We reinitiate our coverage of NVL with a BUY rating and a target price of VND20,000 per share.</li><li>NVL - once among the leading southern developers with major condo project launches in central-HCMC (2015–16) and later township and hospitality projects in the Dong Nai, Binh Thuan, and Ba Ria Vung Tau regions (2019) - entered restructuring amid a late-2022 liquidity squeeze from high leverage, market downturn, and pending project legal issues.</li><li>Since Q2 2025, NVL’s restructuring efforts have made more meaningful progress on key project legal matters.</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 reinitiate our coverage of NVL with a BUY rating and a target price of VND20,000 per share.NVL - once among the leading southern developers with major condo project launches in central-HCMC (2015–16) and later township and hospitality projects in the Dong Nai, Binh Thuan, and Ba Ria Vung Tau regions (2019) - entered restructuring amid a late-2022 liquidity squeeze from high leverage, market downturn, and pending project legal issues.Since Q2 2025, NVL’s restructuring efforts have made more meaningful progress on key project legal matters.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.

Novaland (NVL)  - Restructuring Gains to Accelerate Presales Recovery