We increased our target price for DHG by 3.8% to VND71,500 and upgrade our recommendation to OUTPERFORM based on the following: Softened A&P to focus on sales force restructuring resulted in better-than-forecasted FY15 NPAT. FY15 net revenues decreased by 7.8%, which was in line with our forecast, but NPAT increased by 10.7% and surpassed our target by 8.0%.