In a year that will be largely marked by the presidential elections, when it comes to investWe believe that it is always relevant to highlight the company with good fundamentals and? They have been presenting good balances on a continuous basis.
Regarding general terms, although we cannot say that there is a sector that is solidly above the others, we note that unregulated energy reappears as the highlight.
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In this sense, there are several interesting companies in terms of their fundamentals in both oil and energy.
In this group we highlight:
- Central Port (CEPU),
- Southern Gas Transporter (TGSU2),
- Pampa Energy (PAMP) my
- YPF (YPFD).
Why overweight the energy sector over the rest?
In summary, what we want to make clear is that, In the event of a positive and the market Argentinian reacted upwards, we believe that companies in the energy sectorwhich are currently the ones with the best balance sheets, you will be benefied.
Representatives of the corporate sector highlighted the potential that Vaca Muerta has
On the other hand, in the event that the market reaction is negative, we believe that it will be the least affected sector. At last, in terms of risk and benefit we consider that they are the best option.
Additionally we would like to make a mention for the companies of public services. However, it was possible to observe that the rate adjustment, which had allowed companies that are part of this sector to show an improvement in their income, ended up being lost in part due to the acceleration of inflation during the second half of the year that returned to generate a lag with respect to the price adjustment.
Where and when will the two 2023 presidential debates take place?
In the case of materials industrywe highlight a Ternium (TXAR) above the rest, although it is worth noting that it is usually considered a more defensive sector to invest in, therefore, in the event that the electoral surprise is positive, the impact on shares will be less than in other sectors. In turn, it is a sector that has been presenting ups and downs in terms of dispatches both in terms of exports and locally.
Lastly, in the case of financial sector, this continues to deepen certain difficulties that had begun to be seen during the past year. All banks have experienced certain problems in boosting the total volume of deposits.
Additionally, the participation of BCRA bills in the balances continues to be high, reaching a total of 40% of the total assets of the main banks between the exposure in the public sector.
* Senior Equity Analyst at IOL investoronline
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