Telecommunications companies and retail-related firms are expected to be resilient amid current economic conditions as these provide essential services to people in the middle of the enhanced community quarantine, according to stockbrokerage firm BPI Securities.
BPI Securities said while a lot of companies whose earnings and businesses were affected by the ECQ, telecommunication companies and supermarket chains, however, were expected to perform better during the period.
“Within the Philippine context, you would want to buy companies that sell staple items that benefit slightly from this work-from-home arrangement. So the companies that we think fit the bill include some of the supermarket chains. I think telcos, given that they have the broadband business, would be good stocks to own as well,” BPI Securities president Haj Narvaez said.