Company Insight

Refrigeration Electrical Engineering Corporation (HoSE: REE) is the leading enterprise in the utility sector listed on the stock exchange. REE can maintain a stable return on equity with an effective business model & suitable orientation. Based on FCFF and SoTP, we update the HOLD recommendation for REE with the target price at VND 75,900. In 2023, REE has 2 catalysts (1) The real estate segment is robust by the Etown 6 project; (2) The M&E segment is expected to come back with key projects. However, we believed that the power segment will not record a significant growth rate like in 2022 due to the favorable weather will over.