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NEUTRAL at the revised target of VND19,400/share. SBSC revised up our target price for BHS to VND19,400, pegged a 4.5x P/E and EPS of VND4,312 (diluted). Our target price is offering an upside potential of only 5% from the current level (of VND18,500); therefore, SBSC upgrade our call from SELL to NEUTRAL on this stock.
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