{"id":332374,"date":"2025-04-30T00:03:04","date_gmt":"2025-04-29T16:03:04","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332374"},"modified":"2025-04-30T00:03:09","modified_gmt":"2025-04-29T16:03:09","slug":"stock-in-focus-pldt-inc-tel-30-april-2025-by-ap-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-pldt-inc-tel-30-april-2025-by-ap-securities\/","title":{"rendered":"Stock in Focus: PLDT Inc. (TEL) – 30 April 2025 by AP Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>TEL<\/td><\/tr>
Company Name<\/strong><\/td>PLDT Inc.<\/td><\/tr>
Broker<\/strong><\/td>AP Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>30 April 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 1,618.62<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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With increased profits and brighter outlook, we expect PLDT’s Maya to continue posting better numbers as it navigates the financial landscape of digital banks better than its competitors through expanding its credit portfolio, enhancing merchant offerings, and supplementing its consumer portfolio with credit card loans. We are optimistic that Maya will become earnings accretive to TEL this year, underpinning our BUY rating on TEL with a TP of P1,618.62\/share, especially if TEL pushes through with its plans to increase its stake in Maya and participate more in its growing profitability.<\/p>\n\n\n\n

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

Maya\u2019s first ever quarterly profit<\/strong><\/p>\n\n\n\n

Maya, TEL\u2019s digital banking venture, narrowed its losses to P0.94-Billion in 2024 and booked a profit in December 2024, lending credence to expectations of reaching full profitability this year. Carrying over this momentum, Maya just posted its first quarterly profit in 1Q 2025, which remains in-line with management\u2019s expectations. For its payments business, Maya claims that it has already processed over P1-Trillion in merchant payments in 2024, making it the country\u2019s top merchant acquirer.<\/p>\n\n\n\n

More deposits, more loans<\/strong><\/p>\n\n\n\n

According to Maya, they disbursed P28-Billion worth of loans in 1Q 2025, a massive jump from P6.7-Billion the previous quarter and bringing the cumulative total loans disbursed to P120-Billion. On the asset quality side, Maya\u2019s 3.8% NPL remained relatively low versus the 8.88% average for digital banks in 2024. The bank\u2019s total deposits also hit P43.6-Billion as of end-1Q 2025, resulting to a loan-to-deposit (LDR) ratio of 51.1%.<\/p>\n\n\n\n

Still the best performing digital bank<\/strong><\/p>\n\n\n\n

Maya still maintains a significant lead over its digital banking peers, with its loan portfolio being 2.8x larger than the second-largest lender, UnionDigital, as of 2024. On the other hand, its deposit base of P39.3-Billion is P13.9-Billion larger than GoTyme\u2019s P25.4-Billion. While the other digital banks focused their lending efforts on easy credit and personal loans, Maya has now branched out into the credit card space with the launch of its first credit card in partnership with warehouse retailer Landers.<\/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>