December 3, 2020/Proshare by FBNQuest Research 12% increase to price target driven by 650bp cut in risk-free rate to 6% Barring a significant positive earnings surprise in Q4, we expect Zenith to come in below its ’20f PBT guidance of NGN253bn. Nonetheless, on our new forecasts, we expect the bank […]
Results & Dividends
May and Baker Grows Profit By 44% In Q3, 2020
December 2, 2020/Proshare By May & Baker Nigeria’s leading pharmaceutical company, May & Baker Nigeria Plc recorded impressive well-rounded performance in the third quarter as improving sales combined with increasingly efficient internal cost management to lift the bottom-line by 44%. Key highlights of the interim report and accounts of May […]
Access Bank Q3 2020 Results Review: Compelling Valuation at Current Levels
December 2, 2020/Proshare by FBNQuest Research Material increase to price target due to risk-free rate reduction Access Bank’s Q3 ’20 PBT beat our forecast soundly due to positive surprises on both revenue lines. Funding income benefitted from lower funding costs, driven by a sharp reduction in interest on customer deposits […]
