We raise our target price (TP) by 66% and maintain our BUY rating due to (1) modelling increases in shareholder equity from the proceeds of the FEC sale and future equity capital raisings as well as (2) increasing our aggregate net income forecast for 2021-2025 by 38%.We increase our 2021F net income (before MI) by 19% vs our previous forecast to VND14.1tn (USD611mn; +35.3% YoY) as a result of (1) a 15% cut in our provision charges assumption and (2) 41% increase in our NFI assumption. 2021