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Top-5 Nigerian Equities League for the week commencing 20 January, 2014

Category: Stock PICKS

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Top-5 Nigerian Equities League for the week commencing 20 January, 2014

Monday, January 20, 2014 / Morgan Capital**


And the bulls dominate play with another week of gains

The Nigerian Equities Market sustained another week of gains. The market was up by 1% to 41,751.55 up from 41,440.19 in the just concluded trading week. The positive market sentiment is supported by the expectation that most companies will generally turn out good performances when the FY 2013 earnings season comes through. This expectation has given impetus to the possibility that these companies will reward investors with good dividend payouts. Going into the new trading week, we expect positive investor sentiments to pervade the market and sustain another week of gains as we approach the last earnings season for the 2013 fiscal year.

We urge our subscribers to continue to invest based on the principles of sound fundamentals at good entry prices bearing in mind that in a bear market, stocks with good fundamentals have the capacity to retain value, and even when their prices crash, they are the quickest off the mark in price appreciation when the market sentiment becomes bullish.

Top 5 Nigerian Equities League for the Week commencing [20/01/2014]


Julius Berger comes in at number one on the log this week after the construction company shed some weight in the course of the week. The Company currently has an upside potential of 21.47% and our dividend expectation is N3.00. The Company was in the news recently when the US Justice Department charged the Company N5.1billion ($32million) for bribing Nigerian Officials to obtain and retain contracts contacts related to work for the Eastern Gas Gathering System (EGGS), a project valued at $387million. We think this may have impacted on the price given the expected cash outflow. However, it is our opinion that the Company may have already adjusted its cash flow to reflect this position as the case has lingered for quite a while before the ruling was delivered. We therefore do not expect any huge unexpected cash outflow for 2013.

FBNH, drops to the second position on the log for this week with a potential upside of 19.57% from current price to our estimate fair value. Our dividend expectation for FY 2013 is N1.00 per share

Dangote Sugar comes in at the third position on our league table. The company currently has an upside potential of 16.93% from current price to our estimate fair value. Our dividend forecast for the stock is 60K

Access Bank comes in at the fourth position on the top-5 league table this week after the stock made its debut on the league table some weeks back. The Bank currently has an upside potential of 11.18% and our dividend expectation is 50K

Total Nigeria takes up the fifth position on the league table for this week. The stock remains well positioned in the downstream oil marketing sector despite its many challenges. Total stock has a potential upside of 9.88% from current price to our estimate fair value. Our forecast dividend for FY 2013 is N12.50

For other stocks that make up the top ten on our league table and other company specific research reports, investors can send their enquires to Our research is based purely on fundamentals and emerging verifiable information.

Kindly note that our league table is subject to change based on fluctuations of market prices and/or a review of our fair value estimates. These reviews are based on fundamentals and verifiable information coming from the companies.

Click Here to Download Full Report

Related News:
Top-5 Nigerian Equities League for the week commencing 6 January, 2014
Top-5 Nigerian Equities League for the week commencing 13 January, 2014

** Disclaimer/Advice to Readers:
While the website is checked for accuracy, we are not liable for any incorrect information included. The details of this publication should not be construed as an investment advice by the author/analyst or the publishers/Proshare. Proshare Limited, its employees and analysts accept no liability for any loss arising from the use of this information. All opinions on this page/site constitute the authors best estimate judgement as of this date and are subject to change without notice. Investors should see the content of this page as one of the factors to consider in making their investment decision. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions. This article is published with the consent of the author(s) for circulation to the online investment community in accordance with the terms of usage. Further enquiries should be directed to the author whose e-mail is MorganCapital Group [} 

Tags: Top-5 Picks,  Nigerian Equities,  investors,  Equities market,  banking stocks,  Nigerian Bourse,  P/E multiples,  JBERGER,  FBNH,  DANGSUGAR,  ACCESS,  TOTAL, 

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