CTD shares are recommended for purchase.

CTD shares are being recommended for purchase due to the recovery of the real estate market. BSC Securities forecasts that CTD's gross profit margin will improve in 2026. Investing in CTD shares promises positive returns for investors.

According to BSC, the total backlog value of Coteccons Construction Joint Stock Company (CTD – HOSE) is expected to grow well in 2026 thanks to factors such as the recovery of the real estate market and CTD's status as a large and reputable contractor benefiting from the general trend of the industry.

CTD shares are recommended for purchase (illustrative image).

BSC believes that CTD's gross profit margin will improve as the construction industry recovers, and expects the peak gross profit margin for the current cycle to be at 4-4.3%.

Currently, the gross profit margin for Q3/2026 is 4.5%, and for the first nine months of 2026 is 4.1%.

Recently, CTD's share price has experienced negative developments due to a sharp increase in raw material prices and information related to commercial business case No. 1422/2024/TLST-KDTM.

According to BSC's view, the majority of CTD's backlog has been signed with major investors such as Vinhomes, MIK, and Masterise. BSC assesses that these investors are still able to withstand the recent increase in material costs and interest expenses. Therefore, while there will still be some impact on contract progress and CTD's gross profit margin, it will be less significant compared to other construction companies.

In addition, CTD has set aside a 100% provision for this payment due to the dispute with Ricons. Therefore, it will not affect the profit forecast in the near future.

BSC believes the valuation is currently discounted: P/B FWD 2026 = 0.86x, P/E FWD 2026 = 11.8x, P/B FWD 2027 = 0.77x, P/E FWD 2027 = 7.3x. With a positive backlog size outlook and improving gross profit margin, BSC maintains its buy recommendation for CTD.

Source: https://suckhoedoisong.vn/co-phieu-ctd-duoc-khuyen-nghi-mua-16926052521123598.htm