FINANCIAL services provider Unicapital Group has raised its Philippine Stock Exchange index (PSEi) target to 7,600 from 7,000 previously, citing easing policy rates, slowing inflation, and accommodative Bangko Sentral ng Pilipinas (BSP) and US Federal Reserve monetary policy.
In a report, Unicapital research head Wendy Estacio-Cruz said the new target was based on a 13x price-to-earnings ratio (P/E) and 17 percent earnings per share (EPS) growth outlook for the year, "higher than our previous estimate of 11 percent year-on-year."
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