“Where There’s Pepsi (PIP), There’s Music”
“Where There’s Pepsi, There’s Music”. Indeed Pepsi-Cola Products Philippines, Inc. (PIP) has been sort of a music for investors given its run as of late. As you can see, the stock has indeed reached for its minimum target of Php5.20 that we noted in the February 25, 2014 edition of our Equity Advisor. There, we highlighted the likelihood of a strong push higher as it was able to breakout from a failure swing bottom. Since the time of the issue, the stock has already gained by 13.56%. Moving forward, it seems that PIP may add to its recent rise given its new breakout from what looks to be a bigger rounding bottom pattern. If PIP can stay above Php5.08 then it may be able to aim for a new target of Php6.00 to Php6.20. Still, a slip below Php5.08 may send it back to Php4.63.
Fundamentally, the stock is given a 6-12 month consensus target of Php6.80.* The stock is likewise one of Trading Edge’s top picks for the year.
PIP write-up from the Trading Edge Equity Advisor:
February 25, 2013
Pepsi-Cola Products Philippines, Inc. (PIP) has recently popped out of a failure swing bottom following its move above its previous support at Php4.60. Its recent breakout, strong closing, and an unfilled demand at yesterday’s close amounting to around 2.4 million shares could lead the stock towards a minimum target of Php5.20…
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*Consensus target price or average target price given by the major foreign and local brokers of various stocks are available in our Equity Advisor!
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