GEI - New Residential Segment Drives Growth; IP Land Sales Recover
We have an optimistic view on Gelex Infrastructure’s earnings growth outlook with its low net debt/equity (~38%) and strong operating cashflow...
46 Views
DHC [BUY +25.5%] - Tight Supply Lifts GPM While GL3 Anchors Long-Term Growth
Our TP adjustment is driven by (1) an 8% increase in our 2026F EBITDA forecast and (2) rolling our TP horizon to end2026 from mid-2026.
109 Views
SSI [BUY +20.7%] - Strong ADTV Outlook; Aggressive Margin Lending Activities - Update
We decrease our target price (TP) for SSI by 5.4% to VND38,600/share but upgrade our rating to BUY from OUTPERFORM as SSI’s share price has...
188 Views
STB [OUTPERFORM +13.1%] - Short-Term Restructuring Pain; Major One-Off Gain in 2027F - Update
We decrease our target price (TP) for STB by 11.2% to VND55,400/share and maintain our OUTPERFORM rating as STB’s share price has decreased 19.6%...
185 Views
POW [OUTPERFORM +15.3%] - Nhon Trach 3&4 to Drive Longer-Term Earnings Growth - Update
Our higher TP is driven by (1) the positive impact of rolling our TP horizon forward to end2026F (2) and a lower net debt projection (9M CFO was up...
173 Views