ACCESSCORP Gains 9% as Investors’ Sentiment Improves
Nigeria’s biggest financial institution by total assets, Access Holdings Plc (Ticker: ACCESSCORP) gained about 9% in the equities market as investors’ sentiment improved ahead of the group’s earnings release.
Ranking top among underpriced banking stocks, Access share price surged to N27 as 86.724 million units valued at N2.259 billion were transacted in the local bourse.
The ticker: ACCESSCORP dominated activity by volume with 86.72 million shares traded, reflecting increased market activity for highly liquid banking stock.
With the latest price movement, Access Holdings is inching near its highest valuation in 52 weeks. The group has seen significant price volatility and struggles to breach resistance despite equity analysts saying it’s grossly undervalued.
A slew of equity analysts estimated significant upside potential for investors holding Access Plc at the current price, with buy recommendations across Broadstreet.
At the close of the trading session, the market revalued Access Holdings Plc 53.317 billion outstanding shares for N1.439 trillion, slightly behind 52 weeks high valuation. Zenith Bank Hits New 12-Month High
