We reiterate a BUY rating and raise our target price by 2% to VND31,600/share. Our higher target price is mainly driven by rolling over our target to end-2021. Overall, we maintain our 2020-2024F earnings forecast. We expect BWE to deliver 2021 sales volume growth of 14% YoY vs 8% YoY estimated growth in 2020 (due to COVID-19).