Five Days / two months to the end of the exercise the analysis firms begin to publish their forecasts to 2017. One of the first has been GVC Gaesco Beka that despite the doubts that prevail in the market and the volatility in the that are the markets show optimistic with the future. With a Ibex in the 8.790 points to close Friday, Jaume Puig, general director of the firm, trust in the potential upside of the Stock market and fixed as target for this year by 10,000 basis points. That is to say, gives you a potential of 13.7%. To achieve this ascent, the Ftse ending this year with a rise of 4.7% compared to losses of 7,89% that stacks up to the date.
Puig believes that the Exchanges, with the exception of the american, have been left behind in the global economic growth and that corrections are sustained throughout this year have been due more to the nervousness of the investors fundamental reasons. An example that well illustrates this statement is, according to the expert, the consequences of doubts about the future of the Chinese economy. In spite of the fall registered in August of 2015 and the beginning of this year, forecasts on the GDP of the asian giant have not been cut, but have even improved.
But if spectacular is the potential that grant the Ibex for the next few months, a few months raised complicated (elections in the united STATES, constitutional referendum in Italy, and a rise in interest rates by the Fed), most striking is the margin of improvement that they attach to the Bag for the next financial year. GVC Gaesco fixed as objective the 12.997 points. Which is equivalent to a revaluation of 47,8%. On this basis, and following the statements of Victor Peiro, director of investment of the entity, are optimistic with the Bags in the medium term because “the lack of other attractive alternatives of investment, the macroeconomic developments and a possible improvement of the business results should act as support to regain ground”. The expert believes that in order to take advantage of the expected revaluation of variable income securities more attractive are:
Telephone : the operator is not living its best year ever. Throughout this period, the listed company has had to face several obstacles. The accounts of the company have been penalized by the depreciation of the currency british due to its inability to sell its subsidiary O2. In the beginning, Telefónica had agreed to traspalar Hutchinson by 13.00 million, an amount that would commit to reduce its debt. However, the veto of the Brussels frustrated the sale. To the depreciation of the pound addition to the fall of the brazilian real. All this has translated into declines in the Stock exchange and problems in order to reduce its indebtedness. The doubts which exist about the company have questioned the dividend. Is still pending of approval the payment of 0.35 euros per share with a charge to the accounts of 2015. Despite all these clouds, Peiro trust in the business and future securities of the company. Euskatel : from GVC Gaesco believe that 2017 will be a good year for mergers a nd acquisitions and one of the companies that could arouse the interest of the competitors would be Euskaltel. The firm debuted in the Stock market in mid-2015 corrected this year by 22.4%. Hispania : Peiro believes that the real estate could register a good performance in the coming months and as representative of the sector you choose to Hispania, a reit that could be favoured by the tourism. The firm has a high exposure to the hospitality sector.
Day : although the company has a large number of competitors, whether they are traditional as a new creation, the investment director of GVC Gaesco believes that this year the company has been punished in excess, as in this 2016 is down more than 13%.
Cellnex : the company dedicated to the installation of communication towers, regardless of who make use of them. That is to say, will not lack business. It is a company of niche that you can exploit its dominant position in the market.
Amadeus : this is another of the oligopolies of the traditional Spanish market. Despite the attacks received by Lufthansa in the past year, the services provided are difficult to replace, even the airlines that have tried have seen how their costs have soared. That is to say, one way or the other becomes an indispensable partner and that it will have on your accounts and on your quote.
Inditex : in line with other analysis firms GVC Gaesco applauds the online strategy of the company, something that allows you to reach any part of the world without the need of having a presence in the country. The steps of the textile group will be to promote this business.
Mediaset : the company has an excess of operating leverage and from the house of analysis believe that the favorable economic developments will serve to increase revenues via advertising. In fact, Peiro believes that the advertising market is being too cautious and expect an explosion of activity for the next few months. To benefit the most from this scenario would be the media sector, and within these, the expert chooses to Mediaset that this year yields 4.3%.
Acerinox : the investment manager anticipates that the raw materials, which this year have suffered a seizure, to recover the stability. To take advantage of this stage, the expert chooses to Acerinox, which also offers exposure to the united STATES.
NH : tourism will continue to be one of the engines of the economy and in 2017 it would not be strange that you would be able to beat the records. Not to be left behind, in the signature they choose to NH. But not only the fundamental reasons are those that support your choice. Peiro believes that the investor can get benefits of speculation now that the shareholding structure of the hotel is so divided.
Bankia, the banking sector has been one of the most punished. However, in GVC Gaesco believe that it is time to incorporating more of the banks to the portfolio selectively. “With the low rates, the generation of results will remain under pressure in the banks. But this leads to a more sectoral focus and may be less pressure from the regulators”, they say. As a representative of this sector in the firm choose to Bankia, an entity fully refurbished and the one that best fits BMN. The process of privatisation of the body could be paralyzed until 2018, although Peiro does not rule out that over the next year are made private placements to test the market.
Enagas : although the portfolio model of GVC Gaesco is imminently cyclic, in the signature choose some defensive values. Here the utilities are the best representative and of all, the house of analysis selected to Enagás.
SPAIN: The values of GVC Gaesco to succeed in the Stock exchange
With Information of Five Dias
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