Nigerian stocks took one of its biggest hit in months in the week that just went by as investors interest in industrial goods equities diminished, prompting sell-offs.
In whole, investors’ risk appetite for shares was much subdued relative to penultimate week, with transaction volume falling more than half.
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Yet, the outlook is in no way gloomy for the year. Analysts at the investment bank Cardinal Stone are betting that Nigerian stocks will deliver a stronger yield than 2024 this year, putting their forecast at around 40 per cent.
PREMIUM TIMES has assembled some stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.
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The selection, a product of analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that equities will increase in value with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
Dangote Cement
Dangote Cement tops this week’s pick for trading close to its lowest price in 52 weeks.
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The relative strength index (RSI) of the cement maker is 13, while its price-to-earnings (PE) ratio is 14x. The price-to-book (PB) ratio is 3.9x.
Sovereign Trust Insurance
Sovereign Trust makes this week’s list for trading below its intrinsic value, brightening its chances of strong price appreciation in the future. The insurer’s RSI is 51.7, while the PE ratio is 7.2x. The PB ratio is 0.4x.
United Bank for Africa (UBA)
UBA features on this week’s list for currently trading below its intrinsic value. The lender’s RSI is 50.9, while the PE ratio is 1.8x. Its PB ratio is 0.3x.
ALSO READ: Total Energies, E-Tranzact, UBA top stock pick this week
Julius Berger
Julius Berger appears in the pick for trading close to its two-week low. Its RSI is 0.1, while the PE ratio is 14.2x. The PB ratio is 1.5x.
Total Energies
Total Energies appears on the list for trading significantly below its underlying value. The company’s RSI is 56.6, while its PE ratio is 7.7x.
Prestige Assurance
Prestige Assurance makes the cut for currently trading below its intrinsic value. The underwriter’s RSI is 58.8, while the PE ratio is 5.1x.. The PB ratio is 0.9x.
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