Vietnam National Petroleum, VN000000PLX1

Vietcap gives Vietnam National Petroleum stock a VND 43,200 target

Published on 10/20/2026 at 12:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net income reached VND 2.00 trillion, up 36 percent. Projected 2026 revenue of VND 452.557 trillion supports Vietnam National Petroleum stock.

Earnings and operating scale

Vietcap assigned a VND 43,200 target on October 19, 2026.
First-half net income reached VND 2.00 trillion, up 36 percent.
Petrolimex rolled out E10 across 1,800 stores from June 1, 2026.

Vietnam National Petroleum, VN000000PLX1, Illustration mit AI erstellt.

Vietnam National Petroleum (VN000000PLX1) received a VND 43,200 stock target from Vietcap on October 19, 2026, alongside first-half net income of VND 2.00 trillion, up 36 percent. According to Investing.com, the target reflects expected gains from stronger domestic fuel sales and the national E10 rollout.

Target resets the valuation

The October 19, 2026 report said Vietcap maintained its buy recommendation and projected 2026 revenue of VND 452.557 trillion, up 46 percent, with net income of VND 3.479 trillion, up 30 percent. It also put preliminary domestic sales growth for the first nine months of 2026 at 15.5 percent and estimated a 44.6 percent market share.

The target followed an earlier revision. Simply Wall St reported that the average target had fallen from VND 48,900 to VND 44,467 on October 5, 2026, a 9.07 percent reduction.

What drives the earnings case?

The operating thesis rests on volume and product mix rather than a single fuel-price move. CVS said Petrolimex began selling E10 across more than 1,800 stores and through more than 1,400 franchise operators on June 1, 2026. The company also installed blending capacity of 7.7 million cubic meters per year.

Three dated developments

On June 1, 2026, E10 reached more than 1,800 Petrolimex stores, according to CVS. On October 5, 2026, the average analyst target stood at VND 44,467 after the reduction from VND 48,900, according to Simply Wall St. On October 19, 2026, Vietcap set the VND 43,200 target and cited 15.5 percent domestic sales growth for the first nine months of 2026, as reported by Investing.com.

Listing and operating base

Vietnam National Petroleum Group trades on HOSE under PLX, with energy as its sector and VND as its quotation currency. Global Banking and Finance identifies the company under ISIN VN000000PLX1. The combination of 15.5 percent sales growth and the E10 rollout gives the earnings outlook a measurable operating base, while the lower analyst target shows that valuation expectations remain sensitive to execution.