Company Insight

Initiate coverage with BUY call and Target price of VND113,700

Viettel Post, one of the largest last-mile delivery company in Vietnam and our top pick in transportation sector, given that: 1) the robust e-commerce growth lifts demand for parcel delivery; 2) archiving economy via leveraging technology and network efficiency; and 3) taking advantage of mother company’s supporting. Via employing DCF valuation method, we initiate the BUY rating and target price of VND113,700 (a potential upside of + 40.4% from the current price of VND81,000).