November 3, 2016/Cordros Research We have revised forecasts for DANGCEM going into 2017, considering (1) price action and competition (from LAFARGE whose production faced repeated interruptions in 2016) in Nigeria, which should impact sales volume; (2) likely price weakness in Pan Africa markets on intense competition; (3) higher (than expected) […]
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Zenith Bank Plc – Peak of the Pack?
Culled—Proshare November 3, 2016/GTI Research Investment Highlight 9M -2016: Gross Earnings up 12.9%, net income by 20.44%, boosted by FX revaluation gains Zenith Bank (‘’The Company’’) released its interim 9M -2016 result for the period ended September, 30 2016 on 24th October 2016. The Company reported a 12.9% rise in […]
Access Bank Plc – Investment Case Still Strong Despite Raised OPEX
Culled—Proshare November 2, 2016/FBNQuest Research Earnings and price target trimmed; reiterating Outperform rating Following Access Bank’s Q3 2016 results, we have cut our 2016-17E earnings estimates by an average of 8.3% and our price target by 7.2% to N9.0. These cuts largely reflect the negative surprise in operating expenses in […]
