We increased our DCF-derived target price from VND14,200 to VND17,500 per share to account for better-than-expected material sourcing, which will boost production considerably. Our valuation suggests a 20% upside from the current price, and the stock is now trading at an undemanding 3.6x FY12F EPS of VND3,749. We maintain our BUY recommendation for SBT as we continue to like the company’s fundamentals regarding market share, productivity and capacity. SBT possesses one of the most complete and t