Stock Recommendation for this Week (April 30)

By Modupe Gbadeyanka

The Nigerian equity market closed out last week on a bright note, climbing 115bps to notch a 105bps w/w gain.

Market sentiment at the end of last week was largely positive – evidenced by markedly positive market breadth and a strong green close. We expect this sentiment to lift the ASI in today’s session.

Last week, Julius Berger released its Q1’18 results, reporting revenue of N35 billion (+3% y/y), 7% below our estimate and PAT of N1.5 billion (Q1’17: N420 million LAT) – 94% above estimates. The stock gained 487bps on Friday to close at N26.90 and has lost 4% ytd.

As usual, Vetiva Research has released its stock recommendations for this week, presented in the picture below.