Airtel Africa, Ecobank and Stanbic Ibtc are the top stocks to watch this week
The Nigerian stock market rose 4.25% last week, with the NGX 30 (the index that tracks the top 30 stocks by liquidity and market capitalization) hitting an all-time high, confirming renewed investor confidence in shares.
A number of first quarter earnings reports were released and a few of them were surprisingly impressive, boosting confidence.
The selection, the result of market analysis, offers a guide to entering the market and taking strategic positions in the hope that stocks will rise in value over time, especially in the short term.
This is not a buy, sell or hold recommendation, but a stock investment guide. You may need to involve your financial adviser before making investment decisions.
Airtel Africa leads this week’s pick on the basis of recording an 82% jump in after-tax profit at
The wireless operator’s revenue jumped 20.6% to
ETI appears on the selection for trading well below its intrinsic value. The lender’s earnings per share (EPS) at the end of the last trading session was N4.65, with a price-earnings (PE) ratio of 2.78x.
The stock is priced at N33 per unit, with an EPS of N4.54 and a PE ratio of 7.71x.
The underwriter’s PE ratio was 3.03x at the end of the last trading session, while its EPS is N0.09.
The UPL features in the pack are currently trading well below its intrinsic value. On Friday, the company’s PE ratio was 3.83x with an EPS ratio of N0.77.
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