NVL [MARKET PERFORM -1.3%] - Expect strong Aqua City, NovaWorld handovers in 2022F - Update
  • 2022-03-07T00:00:00
  • Company Research

We raise our target price for NVL by 7% to VND75,000/share mainly due to (1) a higher valuation for NovaWorld Phan Thiet and Ho Tram as their pre-sales performance in 2021 was better than our previous expectation and (2) a higher valuation for Project C in accordance with market price appreciation. We upgrade our rating to MARKET PERFORM for NVL from UNDERPERFORM as NVL’s share price has corrected 12% over the last three months.


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