Vietcap cuts FPT stock target to VND 77,800

Published on 10/20/2026 at 12:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vietcap cut its target 5 percent to VND 77,800 on October 16, 2026. FPT stock posted VND 35.408 trillion revenue, up 13.5 percent in eight months.

FPT valuation and operating growth

Vietcap cut its FPT target to VND 77,800 on October 16, 2026.
FPT recorded VND 35.408 trillion in revenue during the first eight months of 2026, up 13.5 percent year over year.
FPT opened its Cairo center on October 14, 2026, with a plan to reach 200 employees within two years.

FPT, VN000000FPT1, Illustration mit AI erstellt.

FPT (VN000000FPT1) received a lower valuation target of VND 77,800 after Vietcap cut its target by 5 percent on October 16, 2026, while maintaining its BUY rating. The note gives investors a fresh valuation marker as FPT continues to report double-digit operating growth.

Eight-month growth stays positive

FPT recorded revenue of VND 35.408 trillion in the first eight months of 2026, up 13.5 percent from the same period a year earlier. Pre-tax profit reached VND 7.648 trillion, an increase of 17.5 percent, according to VietnamNet.

The technology segment generated more than VND 31 trillion in revenue during the period, up 16 percent and contributing 58 percent of total pre-tax profit. Foreign information-technology services produced VND 25.529 trillion in revenue, up 13.8 percent, while new international orders reached VND 33.285 trillion, up 28.2 percent.

What does the lower target imply?

Vietcap's October 16, 2026 note projects 2026 net profit attributable to parent-company shareholders of VND 10.755 trillion, up 15 percent, followed by VND 12.299 trillion in 2027, up 14 percent. The analyst also reduced its global information-technology target price-to-earnings multiple to 15.0 times from 17.0 times and cited weaker aggregate forecasts as the reason for the lower target.

Three dated steps for FPT

On September 21, 2026, FPT's eight-month update showed VND 35.408 trillion in revenue and VND 7.648 trillion in pre-tax profit, according to Nguoi Quan Sat. On October 14, 2026, FPT opened a nearshore center in Cairo and said it plans to reach approximately 200 employees within two years, as MarketScreener reported. The latest event was Vietcap's October 16 target reduction to VND 77,800.

Stock price and valuation marker

FPT closed at VND 57,100 on HOSE on October 19, 2026, down 1.89 percent on the session. The dated market price puts Vietcap's VND 77,800 target 36.25 percent above the closing price, using the analyst note's target and the reported HOSE close.