Jardine Cycle & Carriage's Stock Looks Attractive for Exposure to Vietnam Growth -- Citi

Jardine Cycle & Carriage's stock looks attractive for investors to gain exposure to Vietnam's long-term growth story via its investments in Truong Hai Group and REE Corp., Citi Research analysts say in a research report. Truong Hai Group's automotive products should enjoy steadily rising demand as Vietnam's economy recovers and the country's middle class expands, while its agricultural segment could become profitable this year, the analysts say. REE is expected to pursue development of renewable-energy projects to drive future earnings growth, alongside a stable income stream from its office leasing business, the analysts add. Citi initiates coverage of the stock with a buy rating and a target price of S$29.00.