Analysts Estimate 25% Upside for Access Holdings
With an estimated 25% upside potential, equities analysts at Anchoria Securities Limited have recommended Access Holdings Plc shares for investors seeking to build a portfolio of banking stocks.
Data from the Nigerian Exchange showed that the ticker: ACCESSCORP closed at N26.50 per share on Friday amidst broader market bearish conditions.
The NGX All-Share Index (ASI) declined by 1.11% week-to-date to close at 192,826.77 points from 194,989.77, while market capitalisation also fell by 1.12% to ₦123.76 trillion.
In its stock recommendation, Anchoria Securities Limited estimated N33.20 as the target price for Access Holdings Plc (BUY) and projected +25.28% upside.
AccessCorp continues to deliver strong earnings growth supported by expansion in interest income, improved non-interest revenue, and resilient loan growth across subsidiaries, the investment firm stated.
Analysts explained that recent financial results showed solid profit growth, driven by higher yields on earning assets and effective cost management despite inflationary pressures.
“Asset quality remains manageable with stable NPL ratios, while capital adequacy remains above regulatory requirements. Although the stock has gained 15.22% year to date, it still trades below its 52-week high of ₦28.95, leaving room for re-rating”.
Anchoria guided investors to buy shares in the financial services company, citing strong earnings momentum and an attractive valuation with upside potential. Stanbic IBTC Falls by 5.4% after AFS Delay Hint
