FREE Stock in Focus: Century Pacific Foods, Inc. (CNPF) – 5 May 2023 by AP Securities

Stock report by: AP Securities
Category: FREE Reports

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Summary of Broker’s Recommendation

Stock CodeCNPF
Company NameCentury Pacific Foods, Inc.
BrokerAP Securities
Opinion Issued on5 May 2023
1-Year Target PricePHP 26.90

The downsides to operating performance, coupled with the fact that CNPF is already trading close to our target price of P26.90, would warrant a SELL in our view.

Analysis and Opinion

The S&P Purchasing Managers’ Index (PMI) for April registered its lowest reading in 8 months at 51.4, marking a month-on-month decline of 2.1%. The main factors behind the further softening in manufacturing growth were 1.) increased competition, and 2.) milder demand.

This would obviously not bode well for the manufacturing sector as a whole, and one stock which we believe could be compromised would be CNPF. The lower volume outlook, coupled with the company’s weak pricing power would hinder its capacity to grow revenues. In addition to this, we note that the cost of the company’s primary raw material skipjack tuna has been rising steadily and is already at its highest level since 2017.

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AP Securities

AP Securities

AP Securities, Inc. (formerly Angping & Associates Securities, Inc.) was established in November 1989 and has since grown dramatically rising to the 4th spot among the Philippine Stock Exchange (PSE) broker rankings. Learn more about them here.
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