GTCO: Analysts Raise Target Price Ahead of Q2 Earnings
Equities investment analysts at Apel Asset Limited are rather bullish on GTCO with estimated fair value of N63.59 per share, details from its week stock recommendation report shows.
The Investment firm spotted 41.47% upside potential in the orange branded financial services group amidst 9 billion public offers priced at N44.50.
At 36.53%, GTCO Plc has highest return on equity in the banking sector due to lower cost of funds and strong than peer operational efficiency.
Investment analysts at Apel Asset Limited projected N18.64 earnings per share for GTCO Plc for financial year 2024 amidst ongoing capital raise worth N400.5 billion to meet recapitalisation deadline.
In the stock market, GTCO is trading at N45 per share during the intraday trading session ahead of the group second quarter of financial year 2024 earnings results.
The banking group has gained 11% from the beginning of the year to date on the Nigerian bourse, according to data released by Apel Asset Limited.
The firm said in its stock recommendation that GTCO has delivered more than 95% return to investors since 2022. The company is trading at 16.6% below its 52 week high, creating fresh entry opportunities for investors.
GTCO Plc has seen strong positive price movement that lifted its share price to 52 week high of N53.95 on the Nigerian Exchange in the first half of 2024. Investment Firms Upgrade Access Holdings Price Target
