Top 5 Stocks with Buy Recommendations from Broadstreet
With varying upside potential, investment firm Cowry Asset Management Limited has listed Access Holdings, Dangote Sugar, Fidelity Bank, and three other companies as stocks to buy this week.
ACCESS HOLDINGS
The investment firm sees 40% upside for investors who purchase Access Holdings at its current stock market price of N30 per share. Equity analysts set a target price of N42.07 for the financial institution.
The firm advised that investors seeking short-term profits should do so as soon as the share price reaches N34.56. Losses can be minimised if Access Holdings’ share price declines to N25.54.
DANGOTE SUGAR REFINERY
The investment firm sees 36% upside potential in Dangote Sugar Refinery at the current price of N72 on the Nigerian Exchange. The sugar refinery hit a 52-week high of N95.80, suggesting that analysts expect a strong rebound.
Investment firm Cowry Asset set a target price of N97.92 for Dangote Sugar, with a stop-loss at N61.20, and profit can be taken early, as soon as the share price hits N82.80.
Stockbrokers told MarketForces Africa that if the Dangote Sugar share price had peaked at N95.80, it surely has the potential to reach the N97.92 target price set by equity analysts at Cowry Asset Limited.
FIDELITY BANK
Fidelity Bank has 40% upside potential, according to the stock recommendation report from Cowry Asset Limited. The tier-2 bank share price is at N20, tracking its 52-week high of N24.25 per share.
Equity analysts set a target price of N27.20 for the bank’s share, advising investors to sell to reduce losses if the share falls to N16.58 – a level Fidelity Bank has been far from, according to its trading data on NGX – the lowest in the 52-week period was N17.1.
The stock recommendation suggests that impatient capital can take profits earlier if Fidelity Bank’s share price rises to N22.43. Investors would realise a 40% upside if Fidelity Bank hits the N27.20 target price estimated by Cowry Asset Limited.
HBM Nigeria PLC
Investment firm Cowry Asset Limited projected a 30% upside potential in holding HBM Nigeria Plc at the current price of N345 per share. The cement company had reached N389, its highest in 52 weeks.
HBM Nigeria, a member of the cement oligarchy in the Nigerian market, remains a key challenger in the industry with strong volume and revenue-generating capabilities.
Analysts set the target price for HBM Nigeria at N464.10 and advised investors to reduce losses by selling their shares if its share price falls to N303.45.
Investors with impatient capital are advised to sell their holdings when HBM Nigeria’s share price reaches N410.55. The 30% upside can only be realised by those who wait till the cement company’s share price reaches the N464.10 target price set by Cowry Asset Limited.
ZENITH BANK
Zenith Bank Plc’s price target has been set at N163.20 per share, compared with its closing price of N128.60 on the Nigerian Exchange. Based on the estimated fair value, Zenith Bank has 28% upside potential relative to the reference price.
The bank’s share price peaked at N136.90 over the last 52 weeks, and its lowest was N53.70 over the same period. The estimated fair value suggests analysts expect Zenith Bank’s share price to rise, with the hope that the upcoming earnings release will catalyse repricing.
Investors seeking to stop losses are advised to sell the bank’s shares if they fall to N108.38 per share on the Nigerian Exchange. Analysts at Cowry Asset Limited expect early profit-taking when the share price reaches N146.63.
HBM Nigeria – A Brick in Construction of Value Investors’ Portfolio -WSTC
