Futureview Guides Investors on Stocks to Buy, Hold or Sell
The market is poised for a positive trend, driven by renewed investor interest in undervalued stocks, Futureview Financial services Limited said in a note.
The firm said favorable corporate actions and strong earnings reports are expected to boost sentiment and support market recovery. Last week, the local bourse ended the trading sessions on negative note with investors losing more than N421 billion.
The Nigerian Exchange (NGX) All-Share Index (ASI) declined by 0.62% Week-on-Week to close at 107,821.39 points, down from 108,497.40 points in the prior week.
This downturn was primarily driven by sustained profit-taking activities in key stocks, as investors shifted focus towards high-yield opportunities in the fixed-income market. Hence, year to date return moderated to 4.76%.
Futureview appears to be bearish, and neutral on banking names except to Access Holdings and Sterling Bank which attracted buy recommendation.
The firm is bearish in totality on consumer goods and telecom stocks but show positive interest in relatively underpriced insurance names and oil & gas stocks.
Details from the stock recommendation release have oil and gas names among top stocks to buy. Futureview estimated 20.90% return on Oando Plc, 10.86% on Total Energies, 19.62% for Japaul Gold and 34.84% in Aradel Holdings.
The firm estimated on NEM insurance at 15.34%, Mansard 16.24%, Sunu Assurance 31.83% and Cornerstone Insurance 31.35% while AIICO is kept on hold.
On the industrial goods, Dangote Cement and Lafarge Africa WAPCO were rated hold, while BUA Cement attracted buy rating, Beta Glass is recommended for a sell. #Futureview Guides Investors on Stocks to Buy, Hold or Sell#
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