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Home Markets Equities Stock Market

Could This Bank Stock Gain 90% Before The End of The Year?

Nairametrics by Nairametrics
September 28, 2015
in Stock Market
Could This Bank Stock Gain 90% Before The End of The Year?
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RelatedPosts

FCMB provides 300,000 underbanked Nigerians with Microloans worth N40bn

Bank sector shares weigh down the NGX to lose over N47 billion in a day

Research company Meristem in its latest stock recommendation has suggested that FCMB could have a potential upside of a whopping 97%!! Here is the summary of their recommendation

  • FCMB pared by 2.12% during the week to bring the share price to NGN2.31, just as the volume and value of transactions declined by 52.15% and 54.80% correspondingly
  • We remain optimistic regarding the upside potential of the stock, and believe the current price level portends a good opportunity.
  • The bank recorded a growth of 11.1% in its top-line, while Profit-Before-Taxes and ProfitAfter-Taxes declined by 14.1% and 13.3% YoY accordingly.
  • The bank, like most of the rest in the industry, was affected by the exponential growth in Loan impairment charges, while declining non-interest income also contributed to this weaker financial performance.
  • We expect the bank’s performance to remain impressive in 2015, despite the anticipated challenges from the operating environment
  • TP – N 4.56
  • Expected Return:   97.4%
Do you think this is possible? FCMB currently has a price range of about N1.93 – N4.64 this year and has returned a -4% year to date.

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