TDM [OUTPERFORM +13.5%] - Expecting strong volume rebound in 2022 - Update
  • 2021-11-05T00:00:00
  • Company Research

We raise our target price by 20% to VND39,100/share and maintain our OUTPERFORM rating for TDM. We maintain our optimistic view on TDM due to its oligopoly power in Binh Duong (a top-three province in attracting FDI in Vietnam) and its ~37% stake in BWE (the leading water provider in the province).


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