Equities analysts have spotted strong upside potential in UBA Group Plc ahead of the pan-African lender’s earnings release. Investment firms recommend that investors buy UBA on the back of huge upside estimate after a moderate price decline in the equities market last week.
Latest trading results revealed sell pressure dragged the stock market price of UBA down to N38.7 on Friday, from N39.15 at the beginning of the trading session last week.
The banking group share price is trading negative during early hours on in the equities market ahead of earnings. In their separate stock recommendation, Apel and Cowry Asset Limited advised investors to buy UBA to enjoy expected price appreciation.
Apel Research estimated a 39.41% upside on the stock market fair value estimate of N53.95 versus the current market price. Analysts expect the bank earnings per share to settle at N8.53.
Surprisingly, Cowry Asset Limited projected higher earnings per share of N17.14 for UBA from N14.78, setting the target price at N53.
The firm saw a 35.90% upside potential for investors trading shares of pan-African lender stocks on the Nigerian Exchange. UBA is expected to release its earnings in the coming weeks amidst efforts to recapitalise its banking group. #UBA: Investment Firms See Strong Upside Ahead of Earnings#
Source: www.dmarketforces.com
