HDB [BUY +58.7%] - Positive outlook on NIM with potential cheap funding flows - Update
  • 2022-05-16T00:00:00
  • Company Research

We increase our target price (TP) by 11% to VND35,700/share and upgrade our rating for HDB from OUTPERFORM to BUY. HDB’s share price has plunged 21% over the last three months. Our higher TP is due to (1) increasing 2022-2026F NPAT-MI by an aggregate of 4% and (2) the positive effect of rolling over our TP to mid-2023.

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