We reiterate a BUY rating on FPT. We raise our TP by 5% as we roll over the DCF while keeping our 2018-2021 NPAT forecasts unchanged. Attractive valuation: projected 3Y PEG of 0.5, 4.7% dividend yield. FPT is set for a sustainably fast-growing period thanks to Software Outsourcing, Telecom Services and Education segments. We forecast recurring EPS to jump 25%/25%/21% in 2018/2019/2020 as the above business trio is projected to combine for 83% of FPT’s 2021F NPAT vs 73% in 2018F.