Equities Analysts See 40% Upside Potential in Zenith Bank
With buy recommendation, equities research analysts at Cowry Asset Limited has estimated about 40% upside potential for Zenith Bank Plc, a local lender with international authorisation.
Analysts at the investment firm set Zenith Bank price target at N67, far ahead its current market price of N47.80, its closing price on Friday.
The figure translates to 39.58% upside potential as market awaits the financial services company’s earnings release. The bank share price had peaked at N52, its highest price in 52-weeks in the equities market.
Zenith Bank has maintained strong dividend track record in the banking sector with stronger year on year earnings growth. Analysts anticipate a better earnings for 2024, and some think the bank could raise its bar further with higher than expected final dividend.
After it successful capital raise, the Nigerian Exchange re-rated Zenith Bank Plc market value near about N2 trillion. Stockbrokers anticipated a rush to buy the bank stock after earnings release, and dividend announcement.#Equities Analysts See 40% Upside Potential in Zenith Bank#
