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Feb 19, 2020 (LBO) – With the recovery in economic activity and company earnings, First Capital Research (FCR) expects an upward trend in the capital market supported by stronger market multiples.
Launching the Strategy Report 2020, Head of Research at the First Capital Holdings, Dimantha Mathew said that the heavy tax cuts and the policy rate cut is likely to be an added boost for company earnings.
“Considering the mid-term positive impact, we upgrade our equity exposure to 100% while maintaining our ASPI expectations for Jun 2020 at 6,500, assuming Market PER to be in the range of 8.5x – 9.5x,” he said.
“However, we upgrade our ASPI target for Dec 2020 to 7,500 from the previous 7,000 amidst the added boost to the economy,”
In previous years, First Capital Research recommended investors only to invest a portion of the funds targeted towards equity investments while maintaining a cash allocation.
“However, considering the attractiveness of the market we recommend investors invest 100% or fully invest the equity allocated funds into the portfolio
Launching the Strategy Report 2020, Head of Research at the First Capital Holdings, Dimantha Mathew said that the heavy tax cuts and the policy rate cut is likely to be an added boost for company earnings.
“Considering the mid-term positive impact, we upgrade our equity exposure to 100% while maintaining our ASPI expectations for Jun 2020 at 6,500, assuming Market PER to be in the range of 8.5x – 9.5x,” he said.
“However, we upgrade our ASPI target for Dec 2020 to 7,500 from the previous 7,000 amidst the added boost to the economy,”
In previous years, First Capital Research recommended investors only to invest a portion of the funds targeted towards equity investments while maintaining a cash allocation.
“However, considering the attractiveness of the market we recommend investors invest 100% or fully invest the equity allocated funds into the portfolio
