O Santander promoted two exchanges in its recommended wallet in small caps for June. The units leave lease (ALUP11) and the shares of Intelbras (INTB3), and enter the Iochpe-Maxion (MYPK3) It is orizon (ORVR3). The bench also increased the weight of the Oncoclinic (ONCO3) from 7% to 8%, and cut the sky (CIEL3) from 11% to 10%.
The exchanges do not mean that the portfolio chosen for May did poorly, with its yield of 11.55%. The problem is that the Small Cap Index (SMLL) from the B3which represents the main companies in this market segment, jumped 15.27% in the period.
Furthermore, in the accumulated result for the year, Santander’s small caps portfolio is beaten by the SMLL by a score of +8.38% to +4.18%. At the end of the pencil, the profitability of those who followed the bank’s recommendations was literally half of the B3 benchmark.
Most promising small caps
Ricardo Peretti and Alice Corrêa, who signed the report, state that “the new stocks in the portfolio (Iochpe-Maxion and Orizon) offer better price asymmetries and catalysts in the short and medium term.”
Iochpe-Maxion, for example, is pointed out by analysts as a “possible beneficiary of the stimulus package directed at the automotive sector, to be detailed by the federal government in the coming weeks.” In addition, Santander expects less cost pressure for the auto parts maker. Finally, the bank points out that the company continues with a discounted valuation, trading below the average of other companies in the sector.
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As for Orizon, the bet is that it will benefit from the expansion of the biogas and biomethane business, growth through mergers and acquisitions, the implementation of a biomethane unit in Paulínia (SP), the sale of carbon credits and , finally, by the increase in prices.
See, below, the ten small caps recommended by Santander for June.
Source: Moneytimes
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