Culled—Proshare November 22, 2016/FBNQuest Research Price target cut by 13% to N5.3; 2016/17E EPS ests. cut by 9% Dangote Sugar Refinery’s (DSR) Q3 2016 earnings declined -11% y/y and were behind our estimate by 23%. Although sales grew impressively both on a y/y and q/q basis, higher production and operating […]
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Nigerian Breweries is Maintaining Underperform Rating on Weak Q3 2016 Results
Culled—Proshare November 22, 2016/FBNQuest Research PT unchanged despite 7% average cut to our EPS forecasts Following Nigerian Breweries’ (NB) Q3 2016 results which surprised negatively, we have cut our EPS forecasts by around 7% on average over the 2017-18E period. Despite the cuts to our EPS forecasts, our price target […]
NSE Extends Losses on Selloffs across Oil & Gas Counters as CBN Retains Rate
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday extended losses to the eighth consecutive session primarily driven by heavy selloffs across the Oil & Gas names with the all -share index (ASI) falling by 0.15 percent to close at 25,461.34 points. This is coming on the heels […]
