LTG – We reduce our target to VND72,570/share due to lower forecast in net profit but maintain our recommendation BUY.

■ 1H17 net revenue reached VND4,075bn (+15.1% yoy), completed 52% our current FY17 forecast thanks to 2-digit growth in all 3 major segment.
■ 2Q17 witnessed highest growth in 6 recent quarters with 38.5% yoy in net revenue and 78.7% in net profit.