1. Day Trading Academy
2. Timothy Sykes
3. Sasha Evdakov
Toyota Motor Philippines Corp. remained the leader in terms of sales, accounting for a 43.67 percent market share as of end-May.
Sales of Toyota stood at 69,231 units during the five-month period, up 20 percent from 57,756 units last year.
We are raising our net income forecast and FV estimate on EW following its better-thanexpected performance in the first quarter. Recall that the bank’s 1Q17 income jumped 54% y/y to Php1.2Bil, exceeding both COL and consensus estimates. The outperformance was driven by strong net interest and fee-based revenues as well as lower-than-expected provisioning. Overall, we are raising our net income forecasts by 4% in 2017 and by 14% in 2018. We are also upgrading our FV estimate on EW by 14% to Php31.80/sh, based on 1.25X 2017E P/BV.https://ph4.colfinancial.com/ape/FINAL2_STARTER/ResearchCompUpdates/DOWNLOADS/2017-06-09-PH-W.pdf