We maintain our BUY rating and raise our target price by 18% as we lift our aggregate 2022F-2024F core EBITDA (ex-real estate) by 19%. In addition, we raise our target EV/EBITDA from 8.5x to 9x (applied on 2022F core EBITDA) to reflect DGC’s next phase of elevated growth starting from 2024 (2024F core EPS +33% YoY) after its chlor-alkali-vinyl (CAV) project comes online.