News: Philippine market one of top 3 JP Morgan picks for 2013 -
27 Nov 2012
Global investment bank JP Morgan has picked the Philippines as one of its three most-favored stock markets for 2013, marking the fourth straight year that the local bourse is expected to outperform most of its regional peers.
“We are still very bullish for 2013,” JP Morgan Securities Philippines Inc. executive director and head of equity research Gilbert Lopez said in a press briefing on Monday. The two other Asian markets seen by JP Morgan as top market picks for next year are Thailand and India, citing favorable demographics as a common denominator with the Philippines.
At the beginning of 2012, JP Morgan’s emerging market and Asian equity strategist Arian Mowat also cited the Philippines as among its most favored markets along with Thailand and Indonesia. This year, he said the Philippines was still on Mowat’s favored list.
Lopez said JP Morgan had an “overweight” rating on Philippine equities for the last four years. An “overweight” rating refers to a recommendation to buy in excess of the prescribed weight in a closely followed index like MSCI Asia ex-Japan, which JP Morgan expects to rise by 15 percent next year.
“The reason we like the Philippines is that in a global context, earnings environment is still good,” Lopez said, adding that JP Morgan was expecting average earnings per share in this market to grow at a faster pace of 17 percent next year from about 12 percent this year.
(Source: Philippine Daily Inquirer Online, by Doris C. Dumlao, 27th of Nov 2012)
Posted By: PhilCTTIS Data Center
10 Oct 2010
BUSINESS DIRECTORY: ORGANIC, HERBAL & NATURAL PRODUCTS