J.P. Morgan raises target for Masan stock to VND 110,000

Published on 10/12/2026 at 09:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The target reached VND 110,000 on September 21, 2026. For Masan stock, revenue reached VND 77,023 billion in eight months.

Key points in brief

J.P. Morgan raised its Masan target from VND 100,200 to VND 110,000 on September 21, 2026.
Masan reported VND 77,023 billion in revenue for the first eight months of 2026, up 52 percent year over year.
Profit after tax before minority interests reached VND 8,518 billion, 2.2 times the prior-year figure.
Masan's shares trade on HOSE under ticker MSN and are included in the VN30 index.

Masan, VN000000MSN4, Illustration mit AI erstellt.

Masan (ISIN VN000000MSN4) became the subject of a higher J.P. Morgan target after the company reported stronger eight-month figures. According to 24HMONEY on September 21, 2026, J.P. Morgan raised its target from VND 100,200 to VND 110,000 per share. The report kept its Overweight view and tied the change to contributions from Masan High-Tech Materials and continued consumer growth.

Revenue reaches VND 77,023 billion

According to Vietnambiz on September 21, 2026, Masan's net revenue reached VND 77,023 billion in the first eight months of 2026, up 52 percent from the same period of 2025. Profit after tax before minority interests reached VND 8,518 billion, or 2.2 times the prior-year figure.

The result covered 73 percent to 79 percent of Masan's revised full-year revenue plan of VND 98,000 billion to VND 105,000 billion. That comparison gives the target increase a concrete operating backdrop rather than leaving it dependent on valuation alone.

What does the target change signal?

The strongest operating contribution came from two different platforms. Masan High-Tech Materials generated VND 21,013 billion in revenue during the first eight months, 5.1 times the prior-year figure, while the Consumer Operating System generated VND 56,123 billion, up 19 percent, according to Vietnam News on September 28, 2026.

J.P. Morgan's target change therefore rests on a mix of materials exposure and consumer execution. The earnings split matters because the two engines carry different drivers: materials benefited from higher output and tungsten pricing, while the consumer platform relied on retail expansion and branded products.

Investor relations gains recognition

Vietnam News also reported on September 28, 2026, that Masan received the Non-Financial Large Cap Financial Institutions' Best Assessment at the IR Awards 2026. The recognition followed the eight-month revenue increase of 52 percent and profit growth to VND 8,518 billion.

Masan's investor relations page identifies MSN as a stock in the VN30 index and describes financial statements, earnings releases and research reports as core investor materials. The combination of reported growth and expanded analyst targets places cash generation and debt reduction alongside revenue as the next measurable tests of the strategy.

HOSE listing and company profile

Masan Group operates across consumer goods, retail, branded meat, tea and coffee, and high-tech materials. Its HOSE listing uses ticker MSN and the quotation currency VND, according to Global Banking and Finance on October 12, 2026.

The next valuation debate is consequently tied to delivery: revenue of VND 77,023 billion already represents most of the revised 2026 plan, while profit of VND 8,518 billion has grown faster than sales. Those figures explain why the VND 110,000 target has become the central market reference for Masan stock.