Culled—Proshare October 15, 2020 by FBNQuest Research Material increases to earnings estimates We have raised our price target on PZ Cussons Nigeria (PZ) by 32% to N5.4 on the back of its latest results, which exceeded expectations. Q1 2020 (end-August) earnings indicate a sharp recovery from the lockdown that hit […]
Results & Dividends
UBA Q2 2020 Results Review: Upside Potential Still Sizable; Retaining OP Rating
Culled—Proshare October 5, 2020 by FBNQuest Research Rolling over to 2021E; 17% increase to our price target UBA‘s Q2 2020 PAT came in well ahead of our forecast. However, the beat was due to a positive surprise in other comprehensive income (OCI). Above the tax line, PBT missed our forecast because […]
Fixed Income Trading, Low Cost of Funds Boost Zenith’s PAT
September 22, 2020/Cowry Asset Report Zenith Bank Plc’s financial result in H1 2020 was positive despite the COVID-19 pandemic challenges, ridiculously low interest rate environment and the slump in economic activities. Its positive performance was chiefly boosted by trading gains, low interest expense and decline in tax provision. Click here […]
