Equity Analysts Raise Target Price for Guinness Nigeria
Equity analysts have raised the target price for Guinness Nigeria Plc to N391.15, reflecting a significant upside potential to its currency market price.
According to data from the Nigerian Exchange, NGX, Guinness Nigeria Plc closed flattish at N349.90 on Friday due to thin trading activities on the brewer stock.
This translates to 12% upside potential for investors. Afrinvest Limited equity analysts guided investors to accumulate Guinness Nigeria shares from the stock market last week at the current price.
The investment firm set its 12-month target price at N391.15, saying that Guinness Nigeria upgrade happened following reassessment of the near-term business prospects.
Analysts expressed that the decision was supported by strategic management actions, alongside expected improvements in the FY2025 earnings.
Explaining its accumulated ratings, Afrinvest said, “The expected total return ranges between 10.0% and 25.0% or the upside potential is above industry average. However, cautious portfolio positioning is advised”.
Afrinvest had set Guinness Nigeria on a N128.14 12-month price target before its latest review. At the close of the trading session, the market value of Guinness Nigeria Plc.’s 2.190 billion shares outstanding was N766.414 billion, its highest valuation in 52 weeks. After Spot Rates Hike, DMO Reopens 7, 10-Year Bonds for Sale
