Analysts Bullish on Fidelity Bank, Set 40% Upside Potential
Equity analysts have set bullish figures for Fidelity Bank Plc, citing expectations of strong earnings in the financial year 2026.
The Nigerian lender’s share price closed at N21 on the Nigerian Exchange last week, which is currently 40% below the target price set by investment firm Cowry Asset Limited.
In its weekly stock recommendation, the research subsidiary of Cowry Asset Securities Limited set N32.20 as the target share price for Fidelity Bank following a broader market downturn that wiped off more than N1.5 trillion from the local bourse.
The tier-2 Nigerian lender’s share price had reached N24.25, its highest market valuation in the last 52 weeks. Its price momentum has widened its current market price relative to the 12-month low of N17.71.
Fidelity Bank Plc’s earnings per share are estimated to rise by about 40%, according to details from Cowry Asset Securities’ stock recommendation for the new week.
Reflecting strong intrinsic value, the investment firm is advising investors to buy Fidelity Bank at N21, and analysts have set a short-term stop-loss at N19.55. The market value of Fidelity Bank Plc.’s 63.174 billion outstanding shares on the Nigerian Exchange closed at N1.326 trillion.
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