Company Insight

Update coverage with BUY call and target price of VND 16,900

Deo Ca Traffic Infrastructure Investment JSC (HHV) was established in 1974, originating from the "Thong Nhat Workshop" under Construction Board 67. HHV is one of Vietnam's leading investors, operators, and contractors in transport infrastructure. With six BOT transport infrastructure projects generating stable cash flows, alongside promising revenue from its infrastructure construction segment. We update coverage on HHV with a target price of VND 16,900, implying an upside of 47%. We value HHV using the Sum-of-the-Parts (SOTP) valuation method.