Access Holdings Surges as Investors Sentiment Improved
Access Holdings Plc saw positive price movement that nudged the financial services group valuation near N890 billion. The group is the lowest priced among tier-1 names in the banking sector, despite being the largest by total asset.
In terms of market, Access Holdings Plc is value significantly below GTCO, and Zenith Bank in absolute terms and moderately behind UBA group and FBN Holdings.
Analysts said the problem is that the market sees Access Plc as a bank rather than conglomerate with diversified earnings sources and capability.
The Ticker: ACCESSCORP broke through its N24.00 resistance level during the last five trading sessions in the equities segment of the Nigerian Exchange.
Its share price increased over four days with downturn on Thursday due to investors profit taking. The group market value increased by 7% to about N882 billion on Friday, supporting banking index uptick.
The group has rebounded strongly amidst general market re-rating on banking names. Access Holdings Plc is not trading at a 19% discount to its 52-week on NGX. #Access Holdings Surges as Market Sentiment Improved
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