Content summary: Presenting during HSC’s Bouncing Back from Covid conference, Head of Research and chief market strategist Chris Hunt today revealed his end-2022 VN Index target of 1800, 20% upside from the current level. HSC believes positive earnings growth momentum and valuations are supportive of additional upside for Vietnamese equities over the next 12 months. We are forecasting EPS growth of close to 22% in FY22 which would put the index on an undemanding PER of 13.4x, a discount to the rest of the region despite superior earnings growth.
Content summary: VCBS assesses that the favorable factor for the corporate bond market in 2021 is the lower rate, which makes many projects more feasible in terms of the correlation between the cost of capital and the internal rate of return.
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