Modupe Gbadeyanka
By Modupe Gbadeyanka
It is the first trading day of a new week, month and a quarter and investors are hopeful that the local stock market will take an upward swing.
Investors are still in the euphoria of earnings season, though the deadline for submission for FY2018 results ended on March 31, 2019, this month is for the release of the first quarter of this year.
If companies release encouraging figures, investors might consider adding more stocks to their portfolios, which would push prices up and possibly lead to profit taking later when target prices are reached.
As you go into this trading week, analysts at Meristem Research have some stocks they want you to keep a close eye on because of what they could fetch at the end of the week.
The first on their list is Dangote Cement, which close at N191 per unit last Friday. They believe the stock could rise to N232.11k in the week to yield 21.52 percent.
Another on their radar is GTBank, which they anticipate to return 14.67 percent to hit N41.34k per share from N36.05k per share.
The third on the table is NEM Insurance, which the analysts said could appreciate to N3.02k per unit from N2.22k, indicating a 36.04 percent price growth.
Also on the card is UBA, which is tipped to grow by 19.74 percent to reach a target price of N9.22k from N7.70k per unit.
The last stock to consider in the week is Zenith Bank, which is projected to sell at N27.48k per share, yielding 26.06 percent from its current price of N21.80k per unit.
Please always remember that due diligence is advised when buying or selling stocks and when you are confused on what to do, kindly consult a professional or your stockbroker.
From all of us at Business Post, we wish you a fruitful trading week.
