Buy, Hold, Sell »- Parquet

source: Fotorzepa

by Grzegorz Psujek

Latest recommendations for companies in the Warsaw Stock exchange.

“Buy” KGHM

DM PKO BP in a report on July 11 increased recommendation KGHM to “buy” from “sell,” target price per share of the company rose to 82 zł 68 zł.

– Most of the problems are (changing strategy, Sierra Gorda, balance sheet), but definitely grown prices of the main products. Silver and molybdenum increased by 40-50 per cent. since the beginning of the year, which translates to 700 million zł better result every year. In addition, the weakening of the currency has a very good influence – experts stress.

the main chance for the company, according to analysts, it is to change the extraction tax. Each 10 percent. effectively reduce the burden of about 10 zł higher valuation per share.

– Due to the fiscal policy of the government (the deficit below 3 per cent.), we assume that the changes if they are, it is only cosmetic – indicated.

Additionally, in the face of growing weaker impacts in monetary policy in the world can not be excluded in the assessment of the broker courageous reach for fiscal tools (Japan, China, Korea, USA). DM PKO BP predicts that copper company will record this year 1.052 billion zł net profit and 2.195 billion zł EBIT on revenues of 18.287 billion zł.

“Buy” AmRest

Analysts DM PKO BP in a report dated July 11, one paper restaurant company valued at 276.8 zł. They recommend the purchase of securities AmRest.

in the previous recommendation broker was pricing values ​​the company at 215.7 zł. When on this occasion it is worth recalling that calling for the sale of shares AmRest fund FCapital Dutch proposes 215 zł per share.

Experts point out that the company has announced a significant acceleration of opening the restaurant in 2016. and wants to increase its capacity by 140 new premises. in 2015. the company added a net 83 premises. Including purchased restaurants in Germany, the company will expand its portfolio with a record 275 units. – in 2017. we expect to extending the network of 107 restaurants – predicts broker. DM PKO BP stresses that the AmRest’s largest market is still Poland.

– We expect that about 35 percent. revenues and 40 percent. EBITDA in 2016. The company will generate in the Polish market, which continues to present itself very interesting – in 2015. Retail sales in bars and restaurants increased by 6.8 percent. Thanks to the higher growth of wages and the program 500+ expect even higher growth this year – commenting representatives of brokerage house.

Analysts remind that the network acquired the German Starbucks is on the eve of the restructuring measures.

– AmRest believes will improve its profitability, although this process will probably take several years. In 2016. The company will not open new restaurants in Germany, and a small number of openings – about 10 – are expected in 2017. The consolidation of the German network, due to the low profitability (4.4 per cent. In 2015). Help slight dilution of EBITDA margin in 2016. – comment on the experts.

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