IDC – Update – Positive signals from trade negotiations
Posted: Jul 16, 2025
- In case the result of tariff negotiations remains unchanged from the current announcements, Vietnamese exports to the U.S. will gain a competitive edge over other countries, which would revive the industrial real estate market;
- We forecast 2025 net profit (NP) to decline by 19% yoy, due to a temporary slowdown in industrial land demand. However, we expect 2026 NP to recover, driven by the tariff advantages secured through Vietnam’s negotiations;
- We upgrade our recommendation to ADD for IDC, as its price has dropped to an attractive level. We maintain our target price at VND 55,500/share.
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