We reiterate our BUY rating and raise our target price (TP) by 6.1% to VND152,000/share. Our higher TP mainly reflects our lower WACC of 13.0% from 14.2% previously and rolling over our TP to end-2021. Additionally, we raise our NPAT-MI assumption from 2020-2023F by 3% in aggregate as the recovery of cargo volume is showing positive progress. We currently assume 2020F revenue of VND695bn (USD30mn; -7% YoY) and NPAT-MI of VND468bn (USD20mn; -6.8% YoY), which are driven by an international car