Research Insights

Viewfinder 2Q2026: Resilience amidst chaos

Our long-term view remains that Vietnam is in the middle of a unique growth cycle and that despite global turmoil is well positioned to outperform all of its peers. This remains a national story of resilience that is unmatched. On the shorter-term horizon, we forecast a 1-year index target of 2055 (12.5% upside) from a bottom up perspective from a more balanced portfolio. Our 2026 GDP growth target remains 7.6% (8% for 2027) despite global uncertainties. We see value across the index which trades at an undemanding 10.4x forward PE when VIC is excluded. Some high-quality names are offering longer term investors excellent entry points (FPT being the most obvious). By sector, we favor banks, consumer, and brokers at these levels.