March 7, 2018/InvestmentOne Research The Nigerian equities market reversed its gains in the previous two trading sessions to print in the red today, losing -1.51%. However, market breadth index ended positive with 26 gainers against 23 decliners. ETERNA (+10.15%) topped the gainersâ chart today while UNITYBNK (-9.24%) had the worst […]
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Intraday Update: NSE Benchmark Index up +0.22% on Buy Industrial, Oil & Gas Counters
March 7, 2018/InvestmentOne Report ASI as at 12.00pm: +0.22%. Market movers: ETERNA (+10.15%), CAVERTON (+10.11%), JOHNHOLT (-4.17%), UPL (-4.09%). Sector Performances: Industrial (+0.59%), Oil & Gas (+0.15%), Banking (-0.32%), Consumer Goods (-0.60%). Market activity: In today’s early trade, while total volume declined by c. -43%, total value increased by c. […]
Nestle Nigeria Plc: Slight upward revision to 2018-2019E earnings; SELL rating maintained
March 7, 2018/Cordros Capital At our revised TP of NGN851.92 (previously NGN843.54), we maintain SELL rating on NESTLE’s stock at the current market price of NGN1,380. The q/q sales revenue contraction reported in the seasonally-supportive Q4 is a volume pressure worthy of note. Besides, gross margin (-219 bps y/y and […]
