March 17, 2026/InvestmentOne Report The equity market has sustained its positive tone this month (5.05% MTD), supported by continued buying interest in fundamentally strong and high-performing stocks. Below is a snapshot of key stocks driving market performance, alongside their month-to-date and year-to-date progress — and the impact on a ₦1,000,000 investment: […]
Results & Dividends
Lafarge Africa Plc 2025FY Update: Expect Negative Free Cashflow in 2026E; Downgrade to HOLD
March 16, 2026/Cordros Report In this note, we update our 2026E estimates and outlook for Lafarge Africa Plc (WAPCO) following the release of its 2025FY results and subsequent management engagement. A key takeaway from the company’s earnings call was management’s confirmation that the 4.50MTPA capacity expansion at the Sagamu and Ashaka plants has commenced, […]
MTN Nigeria 2025FY: We Raise Our Target Price to NGN975.47; Maintain BUY
March 12, 2026/Cordros Report We update our view on MTNN following the release of its 2025FY results, which reflected a stronger operating performance, supported by ARPU growth (+45.4% y/y), subscriber net additions of 6.40 million, EBITDA margin expansion (+13.63ppts y/y), and a swing from FX losses to FX gains. For 2026E, […]
