MAYBANK Investment Banking Group has reinitiated a 'buy' recommendation for Manila Electric Co. (Meralco/stock code MER), with a target price of P516 per share, given the company's role as the sole distribution utility in Metro Manila and its expanding generation portfolio.
MAYBANK Investment Banking Group has reinitiated a 'buy' recommendation for Manila Electric Co. , with a target price of P516 per share, given the company's role as the sole distribution utility in Metro Manila and its expanding generation portfolio.'Our target price implies an EV/Ebitda multiple of 9.1x, which is in line with MER's 5-year average of 9.2x,' Maybank said in a report last week.
Meralco's energy sales were also said to have fully recovered since 2022 on the back of the country's economic reopening, with first-half 2024 energy sales reaching 26,954 GWh , an 18-percent increase compared to the first half of 2019.'We project revenue growth of 5 percent in fiscal year 2024 and 4 percent in FY 2025, supported by steady volume growth tied to an 80 percent elasticity of energy sales to GDP ,' the report said.
Reinitiates 'Buy' Call For Meralco
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
P7.5-B investment gives Meralco control of SPNECPANGILINAN-LED Manila Electric Co. (Meralco) is set to take control of renewable energy (RE) firm SP New Energy Corp. (SPNEC) by investing P7.5 billion through the purchase of an additional 5.8 billion shares.
Read more »
Hotel & Foodservice Suppliers Show back-to-back with Beauty + Health & Wellness Manila 2024 at SMX ManilaGet ready for a thrilling convergence of industry innovation at the SMX Convention Center Manila! From September 19 to 21, 2024, two major events will come together under one roof: the Hotel & Foodservice Suppliers Show and Beauty + Health & Wellness Manila.
Read more »
Hotel & Foodservice Suppliers Show and Beauty + Health & Wellness Manila 2024 officially opens at SMX ManilaThe much-anticipated Hotel & Foodservice Suppliers Show and Beauty + Health & Wellness Manila 2024 officially opened today at the SMX Convention Center Manila, running from September 19 to 21, 2024.
Read more »
![[WATCH] LIT by Rappler: A reading from ‘A Portrait of the Artist as Filipino’ by Nick Joaquin](https://i.headtopics.com/images/2024/9/18/rapplerdotcom/watch-lit-by-rappler-a-reading-from-a-portrait-of--watch-lit-by-rappler-a-reading-from-a-portrait-of--1014CC21FA4AC2FB6DF154A886EDE0CC.webp?w=640)
[WATCH] LIT by Rappler: A reading from ‘A Portrait of the Artist as Filipino’ by Nick Joaquin'The old Manila, the original Manila', in the words of our National Artist for Literature
Read more »
SMB, Meralco vs. separate foes in EASL opener Oct. 2 at MOADefining the News
Read more »
Meralco deploys students to US, China to study nuclear energyDefining the News
Read more »