These Analysts Slash Their Forecasts On VinFast Auto After Q2 Results

VinFast Auto Ltd. (NASDAQ: VFS) reported a second-quarter loss of 53 cents per share, which was wider than the analysts' estimate of a 33-cent loss, despite revenue increasing by 85.5% year over year to $1.204 billion, surpassing the consensus estimate of $1.149 billion. Following the earnings announcement, analysts from Cantor Fitzgerald and Chardan Capital adjusted their price targets, lowering them from $5 to $4 and from $5.5 to $5, respectively. The company's shares rose 0.7% to $2.92 on Tuesday, and VinFast aims to produce 300,000 electric four-wheelers annually, with Vietnam expected to account for over 75% of deliveries.