HVN – Update – Reaching new heights
Posted: Jan 20, 2026
- HVN’s net profit in FY25 edged up 0.4% YoY, supported by a sharp recovery in international passengers and easing fuel costs
- Net profit in 2026–27 is forecast to grow 13.8%/16.5% YoY, driven by stronger travel demand and gross margin expansion as fuel prices stabilize and operating efficiency improves.
- Recommend ADD with a target price of 43,600 VND/share.
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