We keep our target price broadly unchanged at VND35,000/share but downgrade our rating from BUY to OUTPERFORM as DIG’s share price has increased 12% over the last three months. Our 2021F forecasts are almost unchanged at PBT of VND1.1tn (USD49mn; +26% YoY) and NPAT-MI of VND908bn (USD39.5mn; +28% YoY) as we continue to expect DIG to complete the sale of a 31-ha land plot on Dai Phuoc Island in 2021 — contributing ~80% of our 2021F NPAT-MI forecast — and deliver land plot units in Nam Vinh Y