The price of MWIDE reached 8% compared to last week. Other than the Malolos Clark Railway project, it gained contracts to build 4,700 housing units in Laguna and Bulacan. It is also expected that the Government will ease down travel and tour operations at 50% capacity for GCQ areas and 100% capacity for MGCQ areas.
Although the economy is reopening, the tourism uncertainty is still there. In the coming 5 years, there will be negligible growth in passenger volume for MWIDE. However, the industry can be revived by the support and cooperation from Government initiatives.
Considering the valuation, airport asset, and construction order book, MWIDE seems to be a good option. The recommendation is to buy but in small portions with an inital target price of 8.30.