See Major Stocks to Monitor and Possibly Buy This Week

By Modupe Gbadeyanka

Last week saw the bears and bulls showing their supremacy on the floor of the Nigerian Stock Exchange (NSE) but at the end, the market closed 0.19 percent w-o-w despite the bulls claiming three of the five trading days.

However, investor sentiment improved with a total of 35 equities appreciating in value compared with the 31 depreciating stocks.

Seven stocks have been pencilled down for monitoring this week by analysts at Meristem Research as well as those at United Capital Research.

According to those at Meristem Research, Dangote Cement, which presently trades N189, is expected to hit a target price of N232.11k with a return of 22.81 percent.

GTBank, which trades at N35.05k, is anticipated to yield 17.95 percent to reach N41.34k per unit.

Also on the list is Mobil Oil Nigeria, which is projected to hit N199.38k from its present N177.90k, yielding 12.07 percent.

On the list too is UBA, which should return 41.85 percent after reaching N9.22k from N6.50k.

Last on the log is Zenith Bank, which trades at N20.45k at the moment and is anticipated to hit N27.78k to return 35.84 percent.

For those at United Capital Research, they have pencilled five stocks on their watchlist and they are presented below.

First on the chart is Dangote Cement, which they projected to have a year-end target price of N235, yielding 24.3 percent from its present value of N189 per share.

Second on the list is GTBank, which is anticipated to hit N46.70k, while Nestle is expected to trade at N1,636 per share.

United Capital Research also advised investors to buy Seplat because the stock could yield 48.5 percent to hit N876.20k per share from N590, while they expect Zenith Bank to return 74.6 percent to hit a target price of N35.70k per share from its present N20.45k per unit.

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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