Chardan has renewed its coverage of VinFast Auto (VFS, Financial), assigning a Buy rating with a price target of $5.50. VinFast, recognized as a dominant force in Vietnam's automotive sector, is actively expanding its reach across Asia, Europe, the Middle East, and North America through its production of electric vehicles, e-bikes, and e-buses.
The firm anticipates significant growth in VinFast's electric vehicle sales, projecting that the number of units sold in 2024 will nearly triple compared to those delivered in 2023. This optimistic outlook underscores Chardan's confidence in VinFast's market potential and its expanding presence in the global electric vehicle industry.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for VinFast Auto Ltd (VFS, Financial) is $8.33 with a high estimate of $13.00 and a low estimate of $6.00. The average target implies an upside of 157.20% from the current price of $3.24. More detailed estimate data can be found on the VinFast Auto Ltd (VFS) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, VinFast Auto Ltd's (VFS, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
