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DXG [BUY +21.2%] - Strong deliveries to sustain earnings growth in H2 2017 - Update

We reiterate a BUY rating for DXG while raising our target price by 5% with revaluations of the Gem Riverside, Opal City and SaigonRes Riverside projects on a brighter sales outlook. Continuously robust demand in the mid-range property segment in H1 will support DXG’s new launches this year, fueling 2017F pre-sales growth of 96% to VND4.3 trillion (USD188 million). The first deliveries of Opal Riverside and Opal Garden