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|Top Gaining Stocks to Watch Closely Next Week by Oge: 10:56 am On November 3, 2018|
The NSE All-Share Index and Market Capitalization depreciated by 2.38% to close the week, November 2nd, 2018 at
Similarly, all other indices finished lower with the exception of the NSE ASeM index that closed flat.
Here are top gaining stocks for the week:
Stocks to Watch:
The company released its Q3 results with revenue and profit jumping to the roof. Based on the 42% increase in top line and 293% growth in Q3 EPS, Newrest ASL has surpassed its 2017 full-year earnings by a wider margin.
Our TTM EPS on this stock is N1.97, which on a 15% adjusted discount rate, presents a fair value estimate of N13.
Verdicts: The stock had already risen by 10% in the last 7 days, investors might need to wait for a dip on profit taking or buy available offers at not more than N7.
Year to date, the stock is up 10.92%.
The bank released an impressive result with double-digit growth; Q3 revenue grew by 21%, profit before and tax after increased by 30.7 and 38.1% respectively. The bank’s customer deposit increased from N684 billion to N723 billion, 5% growth.
As a loan driven bank with loan/asset ratio of 61% (an increase from 55%), Sterlings bank demonstrated its capability to utilize customer deposits as a loan; interest income from loan and advances to customers increased by 20%, from N58 billion to N70 billion.
Based on a TTM EPS of 37k and an adjusted discount rate of 15%, we assign a fair value of N2.46, 53% upside potential from the price of N1.6.
Year to date, the stock is up by 48.1%.
Disclaimer: Please do your homework, this is not a buy or sell recommendation.
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