We maintain our OUTPERFORM rating on DRC despite raising our target price by 17% to VND22,500/share as the stock has rallied 24% in the last three months.Our higher TP is mainly driven by (1) increases of 29%/25%/28% in our NPAT-MI forecasts for 2021/22/23F, (2) rolling over our DCF-based target price to end-2021 and (3) lowering our WACC from 13% to 12.0%.