Culled—Proshare October 25, 2017/FBNQuest Research 7-8% increase to our 2017-18E EPS forecasts / price target: We retain our Outperform recommendation on Zenith Bank (Zenith), following its Q3 2017 results which came in well ahead of expectations. We have lowered the cost-of-risk assumption driving our loan impairment forecast for 2017E by […]
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Oando Secures Court Injunction, restraining SEC, NSE
Culled—Proshare 24/10/2017/NSE Following the directive by the Securities and Exchange Commission of Nigeria, that the Nigeria Stock Exchange should effect a full/technical suspension on the trading of the shares of Oando; the company has obtained an ex-parte order from the Federal High Court. The Federal High Court Injunction is to […]
Dangote Cement Plc. – Retaining Neutral Rating
October 24, 2017/FBNQuest Research 6% cut to our EPS forecast and price target Dangote Cement’s (DangCem) Q3 2017 PBT missed our forecast by around 28%, due to negative surprises in gross margin and opex. To a lesser extent, a slight 2% underperformance relative to our sales forecast, resulting from weaker […]
