Equities Analysts Raise UBA Target Price, See Upside
With the expectation of sustained earnings growth, analysts have raised UBA’s target price to N43.94 ahead of the first quarter of 2025 financial scorecard. On the Nigerian Exchange, UBA’s share price climbed by 15 kobo on each of the 34.199 billion outstanding shares in the equities market.
The stock bucked the negative trend in the local bourse after seven analysts formed a consensus about the Pan African lender market outlook. UBA share price target increased by 11% to N43.94 per share from N39.53.
According to the equities analysts’ note reviewed, the new target price is 40% above the financial services company’s reference price of N31.30. The financial stock is up by 25% over the past year amidst earnings surge expectations.
Analysts foresee potential opportunities for UBA’s share price to rise further, especially if market sentiment improves with the incoming earnings release. Both revenue and net income are forecasted to grow due to an elevated interest rate environment in its African markets.
#Equities Analysts Raise UBA Target Price, See Upside Dangote Refinery Slashes Petrol Price to N835 Per Litre
