Monday, July 11, 2016

Stock picks: Ayala Land, EastWest Bank

MANILA – COL Financial vice president for research April Lee Tan on Monday recommended buying Ayala Land Inc. and EastWest Banking Corp. shares.

Ayala Land, Tan said, would likely benefit from demand for residential space and hotel rooms as President Rodrigo Duterte moves to spread development outside the capital.

EastWest Bank shares are “very cheap” and the lender’s strategy to focus on the retail segment, where margins are higher compared to corporate banking, could pay off, Tan told ANC’s “Market Edge with Cathy Yang.”