Recommended “Buy” by “five-star” expert, VinFast stock continues to increase rapidly

VinFast shares continue to increase rapidly

On the Nasdaq floor of the US stock market, at the end of the trading session on November 28, VinFast shares attracted attention when they increased by 5.43% to 6.99 USD/share. At this price, VinFast's capitalization reached 16.3 billion USD, ranking 26th in the list of car manufacturers in the world . Currently, VinFast is right above the two giants Nissan and Subaru.

Not stopping there, in the trading session last night (November 29), the stock of the car company from Vietnam recorded a further step forward when it increased by 8.15% to 7.56 USD/share. VinFast's market capitalization reached 17.63 billion USD.

VinFast “heated up” clearly not long after Daniel Ives, an analyst from Wedbush, rated VinFast stock “Buy”. The expert’s target price is $12 (implying an 81% upside potential).

Nam Sao experts recommend buying Vinfast stock, it's continuously increasing, picture 1 — After receiving a “Buy” recommendation from Wall Street’s “five-star” rating expert, VinFast’s stock price has continued to rise sharply. Photo: VinFast

Specifically, the analyst believes VinFast is on track to achieve its core objectives, which involve creating a strong product portfolio for global electric mobility while developing a robust ecosystem to generate long-term profitable growth.

“We have seen first-hand VinFast’s impressive performance in Vietnam and are extremely impressed with its electric vehicle footprint,” Ives said in a research report.

Additionally, TipRanks reporter Marty Shtrubel mentioned that VinFast plans to build another facility in the Asia- Pacific region. The company will also target 50 new markets by the end of 2024.

Another plus point for VinFast is that this car company receives support from an expected cash infusion of $1.25 billion transferred directly from VinGroup Founder and Chairman Pham Nhat Vuong.

“The Vinfast EV is the result of years of research, huge engineering resources, complex supply chain relationships, and is now ready for launch,” Daniel Ives emphasized.

Recommendations from a “five-star” expert

The question is why does Daniel Ives's price assessment affect VinFast's market price?

In an article posted on Nasdaq.com, the Nasdaq exchange's website, author Joshua Enomoto admitted that if any other analyst — especially one without name recognition — considered VinFast a growth opportunity, he probably wouldn't bother.

Fundamentally, all investors need to understand the tough challenges facing VFS stock and its peers, according to Joshua Enomoto. With the industry-wide price war clearly hurting every player, no one should enter the electric vehicle space without doing their due diligence.

But Dan Ives is a different story. He represents one of the most respected professionals on Wall Street. According to TipRanks, he is a five-star analyst, currently ranked 151 out of 8,725 professional analysts.

“With a 59% success rate and an average return per review of nearly 15%, Ives is probably not the type to risk tarnishing his hard-earned reputation,” Joshua Enomoto opines.

Daniel Ives, CEO of Wedbush Securities, is known as a leading technology analyst on Wall Street. He is also a prestigious speaker at many events in the US, Europe and Asia; regularly appears on major television channels such as CNBC, Bloomberg, BBC, NBC, CBS, ABC, CNN and Fox News...

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