Company Insight

Vinhomes JSC (HOSE: VHM) is the leading real estate enterprise in Vietnam. We recommend BUY VHM shares with a target price of 77,000 VND/share, valued based on the RNAV method with the following theses: (1) Taking advantage of dominating internal advantages along with a favorable market recovery, Vinhomes will maintain profit growth in 2024, expected to reach 38,622 billion VND and (2) VHM's valuation is relatively cheaper than VHM stock itself in the past, the average of real estate stocks and the general market valuation - VNIndex, providing attractive yields.