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FPT - [BUY +42.9%] - Firmly entering into a double-digit growth trajectory - AGM Note

We attended the AGM of FPT Corp (HSX: FPT) today. Business guidance for FY16 and Q1 2016’s performance is in line with our expectation. FPT remains one of our top picks on the back of its excellent growth prospects in Software Outsourcing and Telecom, while the sell-down of its ICT Trading and Retail business serves as another catalyst. We reiterate our BUY recommendation with a target price of VND65,000 per share.