AMEX : EPHE
-$0.34 (-1.32%)
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EPHE: Still Cheap, But The Growth Picture Looks Less Alluring (Rating Downgrade)
I downgrade iShares MSCI Philippines ETF (EPHE) from buy to hold due to deteriorating GDP growth, a hawkish interest rate environment, unsteady foreign remittances and weak earnings prospects. EPHE trades at a compelling 8.75x forward P/E, but its long-term earnings growth outlook is only 3%, far below diversified EM peers. Philippines' central bank is in a hawkish cycle as inflation readings remain over 2x more than its comfort range, pressuring economic recovery. seekingalpha.com - 2026-06-16 12:05:53 |