Week on week our market has been pushing boundaries and with foreigners buying more than they are selling our market is in a pretty good spot at this point. Strong buying can be seen in some of my favorite stocks such as EDC, DMC, MBT, AP, and a recent addition ICT. I wouldn't mind adding to my positions in EDC, MBT, and AP; but I would probably shy away from adding more to DMC until I see what their first quarter results are like. I've also started to take a keen interest in the banks simply cause of the recent interest rate increase and speculation that more are to follow. A number of banks that I can't seem to get enough of are MBT(being a sectoral leader), UBP(good, steady growth, 2.5 pesos per share dividends), and SECB(numbers are just all green).
I've taken an interest in ICTSI, because of its global story. The company has acquired numerous ports in different countries; ranging from Brazil to China to the USA to Madagascar (you get the picture). And it continues to do so! A good friend of mine tells me that its books are in order and their numbers have a dark shade of green. FMSC has recently initiated coverage of ICT, estimating the price to be around 50 pesos per share. Looking forward to 2012, their PE ratio would stand at 15-16 and that would be not factoring in their recent acquisitions. One major factor that may affect growth of earnings, may be the slowdown of trade due to the recent earthquake and tsunami in Japan.
So where do I see the market going from here, I think we're due for a little pullback and that would only mean a better opportunity to jump on the bull market. One thing this comeback has shown is that research(doing you homework) pays off.
No comments:
Post a Comment