Written by Cláudio Afonso | LinkedIn | X
The Vietnamese EV maker VinFast announced Tuesday it delivered 21,912 electric vehicles in the third quarter of the year, representing a 66% increase quarter-over-quarter and a 116% increase year-over-year.
Commenting on the results, Cantor’s analyst Andres Sheppard said the figures were above the firm’s estimate of 16,827 and above the Visible Alpha Consensus of 16,053 units.
So far this year, VinFast has delivered 44,260 vehicles and it expects to deliver nearly 36,000 in the three remaining months of the year to achieve its annual delivery guidance of 80,000 vehicles.
Cantor analyst reiterated Tuesday the firm’s price target of $6. The shares of the EV maker closed at $3.77 on Monday.
“Our Overweight Rating and our 12-month $6 PT are unchanged, pending a full model update. In our model, we assume an 11% WACC and a terminal value with a 2% long-term growth rate. Key Risks include: supply chain disruptions, manufacturing constraints, high cost of goods sold, highly competitive market, and slower-than-expected customer adoption,” the analyst wrote.
The EV maker said it delivered 9,300 EVs in September in Vietnam becoming the first Vietnamese EV brand to outperform all international competitors.
VinFast will release its third quarter financial results on November 26.
Written by Cláudio Afonso | LinkedIn | X
