Economy

Check Out Target Price of These Stocks on NSE

Published

8 years ago

05/06/2018

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) kicked off this week trading on a brighter note with 0.37 percent gained on Monday after enduring 11 successive losses.

This came as a huge relief on investors, which had started getting worried with the continuous bear run at the market.

Yesterday, analysts at Vetiva Research released their coverage snapshot for the week, showing which stocks to buy, hold or sell as a result of their target prices, which are highlighted below.

GTBank, which lost 7.87 percent w/w to settle at N38.65k, closed on Monday at N40.40k. The stock trades at 6.4x 2018 P/E and 1.6x 2018 P/BV and has a target price of N50.88k. As a result, a rating of BUY is placed on it.

Zenith Bank, as at last week, has lost 4.32 percent w/w to close. The stock ended the week N25.50k, trading at 4.5x 2018 P/E and 0.9x 2018 P/BV. Yesterday, Zenith Bank finished at N26 and because of its target price of N34.22, it has a BUY rating.

UBA gained 3.77 percent w/w last week to settle at N11. The stock trades at 4.8x 2018 P/E and 0.7x 2018 P/BV. At the market on Monday, it traded flat and with N14.42 target price, it has a BUY rating.

Access Bank added 2.34 percent w/w to close at N10.95 last Friday. The stock trades at 4.0x 2018 P/E and 0.6x 2018 P/BV. On Monday, it rose by 5 kobo to close at N10.65k. It has a BUY rating as a result of its N12.80 target price.

Skye Bank lost 1.43 percent w/w to settle at 69 kobo. Yesterday, it ended at 70 kobo per share. Given the delayed release of results since Q1’16 (Last filing:

FY15), Vetiva has suspended its coverage. The Central Bank of Nigeria (CBN) extended its guarantee to Skye Bank till mid 2018 as it assists it on its recapitalization drive.

FBN Holdings increased by 4.64 percent w/w to close at N10.15 last week, but finished at N10.50k on Monday. The stock trades at 4.2x 2018 P/E and 0.5x 2018 P/BV. With a target price of N12.82, it has a BUY rating on it.

Diamond Bank, which gained 1.46 percent w/w to close at N1.39, ended at N1.41 yesterday. The stock trades at 5.0x 2018 P/E and 0.1x 2018 P/BV and with a target price of N4.45, it has a BUY rating.

FCMB has a BUY rating with a target price of N4.66. Last week, the stock declined by 0.91 percent w/w to close at N2.18 and yesterday, it ended at N2.25. The stock trades at 2.2x 2018 P/E and 0.2x 2018 P/BV.

Stanbic IBTC depreciated 2.95 percent w/w last week to settle at N46.10. The stock trades at 8.4x 2018 P/E and 2.2x 2018 P/BV. Yesterday, stock traded flat and with a target price of N42.38, it has a SELL rating.

Nigerian Breweries lost 10.75 percent w/w to close at N103. The stock trades at 4.6 percent 2018 dividend yield. At the market yesterday, the stock settled at N106 and with a target price of N130.68, it has a BUY rating.

Guinness Nigeria dropped 5 percent w/w to settle at N95.00 last week. The stock currently trades at 3.4 percent 2018 dividend yield at with N89.70 target price, it has a SELL rating. The stock traded flat at the market.

UAC of Nigeria declined by 2.33 percent w/w to settle at N14.70 last Friday. The stock currently trades at 2.7 percent 2018 dividend yield and yesterday, it traded flat. With a target price of N20.03, it has a BUY rating.

Unilever Nigeria rose by 5 percent w/w to close at N51.45 on Friday. The stock trades at 1.4 percent 2018 dividend yield. On Monday, the equity was traded at N51.45 and with a target price of N34.15, it has a SELL rating.

PZ Cussons stayed flat w/w at N21.85 last week. The stock trades at 3.1 percent 2018 dividend yield. With N24.37 target price, the stock has a HOLD rating.

Flour Mills of Nigeria, according to Vetiva Research, has its rating UNDER REVIEW. Yesterday, the stock was sold at N30.10. But last week, it added 5.42 percent w/w to settle at N31.10. Flour Mills recently reported its 9M’17 earnings with top and bottom line of N426.5 billion and N13.2 billion printing 10 percent and 79 percent ahead of 9M’16 figures.

Dangote Sugar gained 5.76 percent w/w to close at N17.45. The stock trades at 5.4 percent 2018 dividend yield. At the market yesterday, the stock traded at N17.25 and with a target price of N23.30k, it has a BUY rating.

Nestle Nigeria lost 10.63 percent w/w to settle at N1,430.00. The stock trades at 3.6 percent 2018 dividend yield. On Monday, the stock traded flat and with N1,275.76 target price, it has a SELL rating.

Lafarge Africa declined by 16.05 percent w/w to close at N34. The stock currently trades at 1.5% 2018 dividend yield. On Monday, the stock traded at N33.10 and with N57.63 target price, it has a BUY rating.

CCNN grew by 16.46 percent w/w to close at N27.95. The stock currently trades at 4.8 percent 2018 dividend yield. Yesterday, it traded flat and with a target price of N11.12, it has a SELL rating.

Dangote Cement shed 8.61 percent w/w to settle at N223 last Friday. The stock currently trades at 5.8 percent 2018 dividend yield. Yesterday, it traded flat and with N289.45 target price, it has a BUY rating.

Julius Berger stayed flat w/w as well as yesterday at N27.55. The stock currently trades at 0.3 percent 2018 dividend yield. It has a SELL rating as a result of its N25.27 target price.

Presco stayed flat w/w at N75, same price it ended yesterday. The stock currently trades at 2.7 percent 2018 dividend yield with a HOLD rating because of its N80.08 target price.

Okomu Oil lost 5.88 percent w/w to settle at N80. The stock currently trades at 3.8 percent 2018 dividend yield. The stock closed at N80 on Monday. With a target price of N94.59, it has a BUY rating.

Oando dropped 7.59 percent w/w to settle at N6.70 last week. Oando recently released Q1’18 results, reporting a top line of

N151 billion (Q1’17: N138 billion) and bottom line of N4.2 billion (Q1’17 PAT: N571 million). On Monday, the stock was traded at N6.10. The rating is still UNDER REVIEW.

Seplat rose by 0.72 percent w/w to settle at N740. The stock currently trades at 4.9 percent 2018 dividend yield, trading flat yesterday. With N970.18 target price, it has a BUY rating.

Total Nigeria declined 4.86 percent w/w to settle at N201.70. Total Nigeria recently released Q1’18 results, reporting a top line and

bottom line of N76 billion (-6 percent y/y) and N1.6 billion (-38 percent y/y) respectively. Yesterday, the stock traded flat. Meanwhile, the rating is UNDER REVIEW.

Mobil Oil Nigeria dipped 4.64 percent w/w to close at N164.50. The stock currently trades at 4.9 percent 2018 dividend yield. At the market on Monday, the stock traded flat. With N258.54 target price, it has a BUY rating.

Forte Oil lost 13.64 percent w/w to settle at N35.15 last week. The stock currently trades at 2.8 percent 2018 dividend yield. The stock finished yesterday at N35.50. It has a HOLD rating as a result of its target price of N77.75.

Economy

NGX RegCo Revokes Trading Licence of Monument Securities

Published

2 hours ago

14/01/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.

Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.

The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.

“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.

Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.

However, with the latest development, the firm is no longer authorised to perform this function.

Economy

NEITI Advocates Fiscal Discipline, Transparency as FG, States, LGs Get N6trn in Three Months

Published

2 hours ago

14/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for fiscal discipline and transparency as data showed that federal government, states, and local governments shared a whopping N6 trillion Federation Account Allocation Committee (FAAC) disbursements in the third quarter of last year.

In its analysis of the FAAC Q3 2025 allocation, the body revealed that the federal government received N2.19 trillion, states received N1.97 trillion, and local governments received N1.45 trillion.

According to a statement by the Director of Communication and Stakeholders Management at NEITI, Mrs Obiageli Onuorah, the allocation indicated a historic rise in federation account receipts and distributions, explaining that year-on-year quarterly FAAC allocations in 2025 grew by 55.6 per cent compared with Q3 of 2024 while it more than doubling allocations over two years.

The report contained in the agency’s Quarterly Review noted that the N6 trillion included 13 per cent payments to derivative states. It also showed that statutory revenues accounted for 62 per cent of shared receipts, while Value Added Tax (VAT) was 34 per cent, and Electronic Money Transfer Levy (EMTL) and augmentation from non-oil excess revenue each accounted for 2 per cent, respectively.

The distribution to the 36 states comprised revenues from statutory sources, VAT, EMTL, and ecological funds. States also received additional N100 billion as augmentation from the non-oil excess revenue account.

The Executive Secretary of NEITI, Mr Sarkin Adar, called on the Office of the Accountant General of the Federation, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) FAAC, the National Economic Council (NEC), the National Assembly, and state governments to act on the recommendations to strengthen transparency, accountability, and long-term fiscal sustainability.

“Though the Quarter 3 2025 FAAC results are encouraging, NEITI reiterates that the data presents an opportunity to the government to institutionalise prudent fiscal practices that will protect the gains that have been recorded so far in growing revenue and reduce vulnerability to commodity shocks.

“The Q3 2025 FAAC results are encouraging, but windfalls must be managed with discipline. Greater transparency, realistic budgeting, and stronger stabilisation mechanisms will ensure these resources deliver durable benefits for all Nigerians,” Mr Adar said.

NEITI urged the government at all levels to ensure the growth of Nigeria’s sovereign wealth and stabilisation capacity, by committing to regular transfers to the Nigeria Sovereign Wealth Fund and other related stabilisation mechanisms in line with the fiscal responsibility frameworks.

It further advised governments at all levels to adopt realistic budget benchmarks by setting more conservative and achievable crude oil production and price assumptions in the budget to reduce implementation gaps, deficit, and debt metrics.

This, it said, is in addition to accelerating revenue diversification by prioritising reforms that would attract investments into the mining sector, expedite legislation to modernise the Mineral and Mining Act, support reforms in the downstream petroleum sector, as well as the full implementation of the Petroleum Industry Act (PIA) to expand domestic refining and value addition.

Economy

World Bank Upwardly Reviews Nigeria’s 2026 Growth Forecast to 4.4%

Published

2 hours ago

14/01/2026

Aduragbemi Omiyale

By Aduragbemi Omiyale

Nigeria has been projected to record an economic growth rate of 4.4 per cent in 2026 by the World Bank Group, higher than the 3.7 per cent earlier predicted in June 2025.

In its 2026 Global Economic Prospects report released on Tuesday, the global lender also said the growth for next year for Nigeria is 4.4 per cent rather than the 3.8 per cent earlier projected.

As for the sub-Saharan African region, the economy is forecast to move up to 4.3 per cent this year and 4.5 per cent next year.

It stressed that growth in developing economies should slow to 4 per cent from 4.2 per cent in 2025 before rising to 4.1 per cent in 2027 as trade tensions ease, commodity prices stabilise, financial conditions improve, and investment flows strengthen.

In the report, it also noted that growth is expected to jump in low-income countries by 5.6 per cent due to stronger domestic demand, recovering exports, and moderating inflation.

As for the world economy, the bank said it is now 2.6 per cent and not 2.4 per cent due to growing resilience despite persistent trade tensions and policy uncertainty.

“The resilience reflects better-than-expected growth — especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026,” a part of the report stated.

“But economic dynamism and resilience cannot diverge for long without fracturing public finance and credit markets,” it noted.

World Bank also said, “Over the coming years, the world economy is set to grow slower than it did in the troubled 1990s — while carrying record levels of public and private debt.

“To avert stagnation and joblessness, governments in emerging and advanced economies must aggressively liberalise private investment and trade, rein in public consumption, and invest in new technologies and education.”