November 9, 2017/Cordros Research We revise forecasts for CCNN following impressive 9M-17 results, and roll forward estimates and valuation to 2018. On net, we raise our TP for the stock by 28% to NGN9.52/share and upgrade rating to HOLD. The revision to our estimates was driven by improved EBITDA and […]
Investors Bite
Intraday Update: NSEASI Heads South on General Bearish Sentiment
November 9, 2017/InvestmentOne Research ASI as at 12.00pm: -0.21% Market movers: CHAMPION (-3.93%), LAWUNION (-3.08%), ETERNA (+10.02%), CAVERTON (+9.46%). Sector Performances: Banking (-0.87%), Consumer Goods (-0.23%), Insurance (-0.24%), Oil & Gas (+0.76%), Industrial. Market activity: Total volume traded today is up +11% compared to this time yesterday with investors exchanging […]
Flour Mills Revision to Estimates
November 9, 2017/Cordros Research We revise 2018 forecasts for FLOURMILL following H1, wherein EBITDA and net profit were impacted by strong FX-linked net operating gains and double-digit revenue growth, which more than offset both weaker y/y gross margin and higher finance costs. While we look for relatively (to H1-18) weaker […]
