Stock Recommendation For This Week (February 19)

February 19, 2018
Stock Market Watch

By Modupe Gbadeyanka

The Nigerian equity market rounded off last week on a largely mixed note, gaining 0.08 percent at week close.

Despite gains in the last three sessions of the week, the Nigerian bourse lost 1.13 percent w/w, cutting ytd returns to 11.5 percent.

Despite last week’s mildly positive close, choppy intraday trading and negative market breadth point to mixed sentiment on the Nigerian bourse.

Nevertheless, according to Vetiva Research, we do not rule out investors swooping in to take advantage of beaten down prices as earnings season approaches.

Last week, Nigerian Breweries released its FY’17 results with topline and bottom line printing at N345 billion and N33 billion respectively, 10 percent and 16 percent above FY’16 figures.

The stock currently trades at N131 per share, below Vetiva’s target price of N149.36, and has declined 3 percent ytd.

As investors resume for trading this week, Vetiva Research has released its weekly recommendations, which can be viewed below.

Stock Recommendation For This Week (February 19)

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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