Emperador Backdoors to TSI

Just a flash analysis:

Expected contribution of Emperador to AGI’s net income in 2012 is 4 billion.

http://www.pse.com.ph/resource/disclosures/2012/pdf/dc2012-6787_AGI.pdf

 Use a PE ratio of 10 you’ll have a market cap target of 40 billion. Divided that by 15 billion shares subscribed will give a target price of 2.66.

 Use a PE ratio of 30x to consider the growth potential of Emperador to arrive at a market cap of 120 billion, you’ll get a target price of P8.

I find it not attractive.

Disclaimer: I do not claim to be an expert and nothing I say should be taken as a recommendation to buy or sell. Read more in the ABOUT page.

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2 thoughts on “Emperador Backdoors to TSI

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