Using the two valuation methods DCF and P/E multiples, BVSC estimates the target price to reach VND 74,000/share. A 35.4% total return is projected for VCS, with an OUTPERFORM rating.

Risks. (1) Impacts of US tariffs on Vietnam exports; (2) Trade defense investigations and imposition of local anti-dumping duties; (3) Silicosis concerns; and (4) Volatile input costs.

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Please find the attached file below.