{"id":331390,"date":"2025-02-06T00:02:00","date_gmt":"2025-02-05T16:02:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331390"},"modified":"2025-03-28T00:49:37","modified_gmt":"2025-03-27T16:49:37","slug":"stock-in-focus-gt-capital-holdings-inc-gtcap-6-feb-2025-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-gt-capital-holdings-inc-gtcap-6-feb-2025-by-ap-securities\/","title":{"rendered":"Stock in Focus: GT Capital Holdings, Inc. (GTCAP) – 6 Feb 2025 by AP Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>GTCAP<\/td><\/tr>
Company Name<\/strong><\/td>GT Capital Holdings, Inc.<\/td><\/tr>
Broker<\/strong><\/td>AP Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>6 Feb 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 911.88<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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Our expectations of sustained growth in vehicle sales this year and Toyota Motor Philippines (TMP)\u2019s continued market dominance underpins our BUY call on GTCAP with a Target Pricr of P911.88 per share.<\/p>\n\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

Toyota recognized as best-selling car worldwide<\/strong><\/p>\n\n\n\n

Toyota was dubbed as the best-selling car brand in the world after it sold 10.82-Million vehicles in 2024. Car sales in the Philippines reached 218K units, making us the carmaker\u2019s fifth largest market in APAC behind China (1.76-Mn), India (300K), Indonesia (296K), and Thailand (220K).<\/p>\n\n\n\n

PH overall vehicle sales reach 467,252 units<\/strong><\/p>\n\n\n\n

Overall vehicle sales in the Philippines reached 467,252 units in 2024, up by 8.7% YoY but a slight miss on the 468,300 forecast for the year. Commercial vehicle sales amounted to 346,482 units (+8.5% YoY) while passenger car sales reached 120,770, up 10.5% YoY.<\/p>\n\n\n\n

What can we expect in 2025? <\/strong><\/p>\n\n\n\n

TMP forecasts overall vehicle sales in the Philippines to reach 512K units in 2025, with TMP targeting to capture a market share of at least 46.0% or around 235K units. This sales target implies an 8.0% volume growth for TMP, which trails behind the expected 9.6% YoY growth for the overall Philippine market and would result to a 70bps reduction in its market share.<\/p>\n\n\n\n

The Newgen Tamaraw, TMP\u2019s classic workhorse<\/strong><\/p>\n\n\n\n

TMP is banking on the recent release of the new generation of Toyota Tamaraw and its best-selling Toyota Lite Ace to fuel growth in its commercial vehicle segment. To recall, TMP has spent P5.5-Billion to add a Tamaraw production line in its Sta. Rosa production plant, which produces the local version of Vios and Innova. According to TMP President Masando Hashimoto, TMP is aiming to achieve monthly sales of 1,500-1,800 Tamaraw units, or around 18,000-21,600 units for 2025.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>