The shift in monetary policy that central banks will make this year with the slow withdrawal of stimuli to control inflation may generate volatility in debt and equity markets.
Given this scenario, analysts consider that there are three sectors that will behave very well in the short term: banking, raw materials and real estate.
Within banking, one of the values that will make it easier to climb the January slope for investors who opt for it is Caixabank. “It continues unstoppable, trading at a one-year high,” he says. Diego Morin, IG Markets analyst.
The bank chaired by José Ignacio Goirigolzarri is benefiting from the increases that the banking sector is experiencing this year thanks to the interest on the debt and the Fed’s forecasts of raising interest rates three times this year.
At the head of the IBEX
The value recovers more than 30 percent from the lows of December and is trading above 2.90 euros, breaking the highs of the year 2021. So far this year traces a 20.51 percent, placing itself at the head of the rises of the IBEX 35.
This good evolution makes 56 percent of the consensus of finance.com analysts recommend buying the value, 40 percent holding and 4 percent selling. They place their target price at 3.03 euros, from its current price of 2.91 euros and give it a potential return of 4.1 percent.
Morín considers that if the value consolidates the section between 2.80 and 2.90 euros, “it is likely that it will seek an approach towards 3 euros, which is the next resistance.”
Acerinox, a “potential jewel”
The Spanish steelmaker is another stock that could present a clear improvement in the short term, since, in Diego Morin’s opinion, “it is an undervalued stock”, trading at 12.42 euros per share. Its stock has benefited from increased demand for stainless steel in the United States and rising prices.
The consensus of analysts gives it a target price of 16.34 euros, which represents a potential appreciation of 31.7 percent. 90.9 percent recommend buying the share, 9.1 percent hold and none choose to sell.
The growth with which Acerinox has opened the year can be extended to the rest of the year, in Diego Morín’s opinion, if its current volumes continue to recover.”
This good track record Edward Faus, an analyst at Renta 4, believes that long-term investors should consider buying the stock, “especially with comfortable trading prices above 12.70-13.75 euros”, since “for this type of investor, Acerinox It’s a potential gem.”
Repsol, driven by the highs in crude oil
The oil company has gained ground in analysts’ bets after accumulating increases of more than 95 percent since last November.
Its titles are trading around 11 euros, driven by the rise in crude oil caused by the lower than expected impact that Ómicron has had on the world economy and on oil demand. The Brent rate today is close to 88 dollars and the West Texas reaches 85.66, standing at 2014 highs.
The value is trading above 11 euros, “an important barrier for investors”, according to Diego Morín. “It stands at February 2020 levels, after breaking and making a double top at €11. If it closes above that level, it could extend to €12 or €12.50, which is the next key resistance.”
HSBC analysts also see potential in the value, with an upward run of 7.7 percent. Since January, it has risen 7.03 percent on the stock market and 58.3 percent of the consensus analysts at Finanzas.com recommend buying the stock, 36.1 percent keeping it and the remaining 5.6 percent selling. They place their target price at 12.72 euros and give it a potential return of 13.9 percent.
Benefited by inflation
Juan Jose Fernandez-Figares, director of the Link Securities Analysis Department, acknowledges that Repsol and Acerinox are benefiting both from the economic recovery and from the strong inflation affecting raw materials and oil, since “they are able to pass on price increases to Your clients”.