First Metro Securities has reiterated its buy recommendation on Puregold Price Club Inc. (PGOLD) with a target price of P60 per share, according to a report by Philstar Biz .
The brokerage firm sees upside potential in the stock even as the broader equities market remains challenging for some investors. The P60 target price suggests room for growth from current levels, though Puregold's performance will depend on its ability to maintain margins and expand its retail network.
The recommendation comes amid cautious investor sentiment in the Philippine stock market, with first Metro positioning Puregold as a resilient pick for those willing to take on equity risk. No further details on the rationale were disclosed in the initial report.