PEG Ratio Indicates Bullish US Stocks Currently Undervalued: $HMC $CEO $SAN

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Honda Motor Partners With CATL To Develop EV Batteries For Its Future Cars

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Honda Motor Co Ltd (NYSE:HMC) stock is currently bullish and has a PEG ratio of 0.61. Since the PEG Ratio is less than 1, then it means this stock is highly undervalued. With the electric vehicle segment growing tremendously there is a need for supply of EV batteries and Hondo Motor is the latest to foray into this segment. The company acquired a 1% interest in EV battery maker, Contemporary Amperex Technologies Ltd. In an announcement, the companies indicated that will co-develop EV batteries for Honda Motor's future electric cars.

Despite the impact of the COVID-19, the company's plans to debut a new hybrid car model in India are on course. Honda Cars India CEO and President Gaku Nakanishi stated that the plans to unveil a hybrid car model next year has not changed.

CNOOC Commences Luda Project Production And Joins ADNOC Concessions

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China National Offshore Oil Corporation (NYSE:CEO) is also another undervalued stock that is currently bullish and has a PEG ratio of 0.18. The company has commenced production at the Luda 21-2/16-3 project. The project is located in Liaodong Bay in the Bohai Sea and is expected to hit peak production of 25,600 barrels per day by 2022.

ADNOC has signed off lower Zakum and Umm Shaif and Nasr concession rights to CNOOC from CNPC. The Abu Dhabi Supreme Petroleum Council approved the transfer marking the first time a Chinese offshore gas and oil company is joining ADNOC concessions. The transfer will involve CNOOC purchasing a 40% stake in CNPC's Middle East subsidiary PetroChina Investment Overseas ltd.

Banco Santander Reports 24.6% Decline In Net Revenue in Q2 2020

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Another stock looking bullish is Banco Santander SA (NYSE:SAN) whose PEG ratio is 0.96. As the PEG Ratio is less than 1, this means the company is highly undervalued. The company reported a 24.6% YoY drop in net income in Q2 to PS.4.23 billion which was impacted by anticipatory loan loss provisions of Ps.3.9 billion ahead of the pandemic. For the past six months, the company reported an 11.5% decline in net income to PS.9.644 billion.

Recently the First BanCorp (NYSE:FBP) announced that it received necessary regulatory approvals to consummate a previously proposed acquisition of Banco Santander Puerto Rico. Closing of the transaction is subject to customary closing conditions with the company expecting the acquisition to be finalized by September 1.

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The post PEG Ratio Indicates Bullish US Stocks Currently Undervalued: $HMC $CEO $SAN appeared first on The Market Signals.

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