theScreener is the market leader for independent valuations of financial securities, equities, sectors and markets, and new funds. theScreener's ratings, analyses are used by leading banks, asset managers and financial portals. Approximately 10,000 workstations benefit from theScreener's services, with over millions of customer accounts actively analysed.
While workers in major cities are returning to work on 10 February, mobility restrictions and shortage of protective masks will lead to a slow start. Hence, 1Q20 is likely to be a washout. But investors have looked beyond the impact of COVID- 2019, with the index recovering more than half of the initial decline. Even with the sharp rebound, some stocks remain attractive, namely CK Asset, PICC P&C, Stella, and Xiabuxiabu.
With the nationwide delay in construction activities, we expect cement players’ 1Q20 earnings to be under pressure, given the high base in 1Q19, although the full-year impact will be limited. With no latest cement ASP data available, we believe the resumption of construction activities and total passenger traffic in China should be key indicators for downstream cement demand. Looking ahead, we believe the cement sector would benefit from potential policy easing. Maintain OVERWEIGHT on the sector.
EM Remains In Favor; Shanghai Comp Breaking Out A weakening US dollar (DXY) continues to be a major tailwind for both EM equities and the commodity Sectors. Improving price and RS trends for these risk-on areas of the market are among the many characteristics consistent with historical bull markets. Therefore, we continue to label this a bull market and we believe global equities are still in the early innings of a broad-based advance. • EM Equities. Price action has remained weak for the US dollar (DXY), which has been great news for EM equities. As outlined in our 12/19/19 Int'l Compass an...
CLICKS GROUP LIMITED (ZA), a company active in the Drug Retailers industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 1 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date February 25, 2020, the closing price was ZAR 239.00 and its potential was estimated at ZAR 287.13.
REMGRO LTD. (ZA), a company active in the Asset Managers industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 25, 2020, the closing price was ZAR 169.50 and its expected value was estimated at ZAR 187.00.
The independent financial analyst theScreener just requalified the general evaluation of WATERS CORP. (US), active in the Medical Equipment industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date February 25, 2020, the closing price was USD 203.37 and its target price was estimated at USD 193.20.
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