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 maintain our BUY rating and increase our target price (TP) by 6.8% to VND78,500/share as we roll our TP horizon forward to mid-2027 while largely maintaining our aggregate earnings forecast for the 2026-2030F period.</li><li>Given its best-in-class customer base and robust funding/capital positions, VCB is well positioned to achieve resilient credit and earnings growth despite rising macro challenges. </li><li>VCB is currently trading at a trailing P/B of 2.17x, implying a 51% premium to the median P/B of its peers in our coverage vs a 5-year average premium of 99%.</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 maintain our BUY rating and increase our target price (TP) by 6.8% to VND78,500/share as we roll our TP horizon forward to mid-2027 while largely maintaining our aggregate earnings forecast for the 2026-2030F period.Given its best-in-class customer base and robust funding/capital positions, VCB is well positioned to achieve resilient credit and earnings growth despite rising macro challenges. VCB is currently trading at a trailing P/B of 2.17x, implying a 51% premium to the median P/B of its peers in our coverage vs a 5-year average premium of 99%.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.

VCB [BUY +29.3%] - Earnings Growth Acceleration Intact Despite Macro Risks

Vietcombank

VCB [BUY +29.3%] - Earnings Growth Acceleration Intact Despite Macro Risks