Culled—Proshare May 5, 2020 By FBNQuest Research Material reductions to our 2020-22E EPS forecasts and PT We have kept our Outperform rating on MTN Nigeria (MTNN), but cut our price target by -10% to N181.6, implying a potential upside of 56.6% from current levels. The downward revision to our price […]

May 5, 2020/Cordros Report Yesterday, OKOMUOIL released its Q1-20 result, which showed that the company recorded a 65.5% y/y increase in revenue, primarily driven by CPO volume expansion, while EPS grew by 101.4% y/y. When annualized, the reported EPS for the period is only 2.0% below our FY2020 estimate and […]

May 4, 2020/Cordros Report Since the start of the year, NASCON’s share price has sustained its downward spiral, declining by 22.4% (All Share Index: -14.2% YTD). While we do not rule out COVID-19 induced risk-off sentiments, the impact of the reported earnings weaknesses – 2019FY EPS declined by a staggering […]