REE – Update – Growth momentum reignited

Posted: 11/06/2025

  • 1Q25 NP grew 27% yoy, driven by strong performance in the power and water segments, offsetting weaker results in M&E and real estate.
  • 2025 NP to rise 29% yoy, supported by real estate and power segments. 2026-27 NP grow modestly, while marking a new investment phase for RE power.
  • Reiterate ADD with higher target price of VND 88.000/share.
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