{"id":322512,"date":"2023-03-30T02:40:45","date_gmt":"2023-03-29T18:40:45","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=322512"},"modified":"2023-03-30T02:56:57","modified_gmt":"2023-03-29T18:56:57","slug":"6-stocks-appreciating-peso","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/6-stocks-appreciating-peso\/","title":{"rendered":"6 stocks benefiting from the appreciating Peso"},"content":{"rendered":"\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Analysis and Recommendation<\/h2>\n\n\n\n<p>The Peso has recently appreciated against the dollar, up by 3% to P54.33 from its year-to-date (YTD) low of P55.98. Notably, other emerging market currencies, such as the Thai Baht, Brazilian Real, Chinese Yuan, etc., have also strengthened against the dollar. <\/p>\n\n\n\n<p>We attribute the weakening of the dollar to recent developments in the Fed\u2019s monetary policy. We note that the absence of upward revisions in the Fed\u2019s policy and looming pause in its rate hikes this year has driven inflows into emerging markets such as the Philippines. <\/p>\n\n\n\n<p>Chart-wise, the Peso-Dollar remains on a downtrend with the Peso&#8217;s support levels at P53.50 and P53.00. We expect this to stimulate some optimism and temper weaknesses in the local market. <\/p>\n\n\n\n<p>In particular, we see stocks that have been hampered last year due to the depreciating Peso, such as net importers and companies with high dollar denominated debt, as potential big movers from this narrative.<\/p>\n\n\n\n<p>This six (6) companies include: auto importer <strong>GTCAP<\/strong> (Target Price: P640.00), the two telco incumbents <strong>TEL<\/strong> (Target Price: P1,636) and <strong>GLO<\/strong> (Target Price:<br>P3,040), and select conglomerates <strong>AC<\/strong> (Target Price: P928.00), <strong>SM<\/strong> (Target Price: P1,123), and <strong>JGS<\/strong> (Target Price: P51.00).<\/p>\n\n\n\n<p>We would also add <strong>URC<\/strong> (Target Price: P168.00) in this list, albeit it was able to show some resiliency last year, as 42% of its input are being imported.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-322512","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=322512"}],"version-history":[{"count":3,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322512\/revisions"}],"predecessor-version":[{"id":322517,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/322512\/revisions\/322517"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=322512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=322512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=322512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}