In this context, Ámbito contacted experts who described the photo of what happened with the Argentine papers in recent weeks and reveal what is your perspective momentum in relation to entering, waiting for or leaving the local market.
Record Argentine stock market: caution in the short term
Walter Morales, President of Wise Capital, asserted that for those that are “bought” it is prudent to take profits. “Local stocks have been accumulating succulent returns and are It’s an opportunity to snatch profits”, maintained the specialist. “The collapse that occurred in the middle of the week was also linked to the announcements by the Minister of Economy, Sergio Massa, referring to the repurchase of debt for US$1,000 million ”, Morales expanded.
In the same tune, Juan Manuel Franco, chief economist of the SBS Group indicated that following the strong rally of Argentine titles in 2022, and their strengthening in 2023, in the short term the upside stock may be limited.
For his part, Pablo Repetto, Head of Research at Aurum Valores, added a key aspect related to the international context. “A global recession that affects risk assets might generate some important adjustment in the short term, that deepens the surprises that may occur in a domestic electoral year”, he remarked.
Argentine stock market: optimism in the long term
Taking into account a much broader time horizon, specialists are very optimistic regarding the future course of the S&P Merval. “We recommend waiting outsidein the event of not owning Argentine shares, and analyzing whether the upward path begins to resume at lower values,” said the analyst at Wise Capital.
Nevertheless, Franco commented that looking from a fundamental analysis, several companies have cleaned up their balance sheets in recent years, improving their results. “We believe that In the medium term, Argentine companies present an interesting opportunity for profiles with an appetite for risk.”, he expressed, enabling entry for those who invest in the long term. In this sense, “We suggest positioning yourself in the energy sectorand we stand out within this type of papers those of Pampa Energía, YPF or Transportadora de Gas del Sur”he mentioned.
For his part, Repetto also adhered to its purchase preference on shares in the energy sector, fundamentally, of the companies related to the development of Vaca Muerta, Due to the opportunity generated following a rearrangement of the geopolitical situation”. “The Argentine stock market is still cheap and there are many stocks with good growth potential in the medium and long term”, concluded the the experience of the Gold Values.