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last mo.

Credicorp Sees About 8% More Upside for Lima Stock Exchange This Year

Heavy corporate profit growth with steady dividend yields explains why analysts expect modest further gains while valuations and risks make those gains selective.

Las compañías listadas en la bolsa peruana registraron un crecimiento de ganancias de 34% en 2025. Composición: Gestión
La volatilidad asociada al proceso electoral podría abrir ventanas de entrada a precios más convenientes para los inversionistas.
El optimismo se sustenta en una economía con inflación controlada, crecimiento sostenido y empresas que continúan mejorando sus resultados financieros.

Overview

  • Credicorp Capital projects roughly an 8% additional price rise for the Lima Stock Exchange through year-end after the market climbed more than 20% so far in 2026.
  • The firm bases its view on outsized corporate results, noting listed companies posted 34% profit growth in 2025 and are forecast to expand about 43% in 2026.
  • Dividend income is also a driver, with the BVL’s average yield near 4% that can add to total returns even if price gains narrow.
  • Valuations have normalized to about 12.7 times projected earnings, which Credicorp says tightens upside and supports a relatively defensive portfolio that keeps exposure to mining names such as Ferreycorp, InRetail and Minsur.
  • Key risks that could trigger short-term corrections include electoral volatility, global geopolitical tensions and a possible El Niño, and those pullbacks could create buying opportunities for medium- and long-term investors.