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Nigerian stocks appreciated marginally by 0.1 per cent last week on the back of increased interest in oil & gas equities.
The market has yielded 30.5 per cent year to date, with the Oil & Gas Index leading other sector indexes. Energy stocks have gained more than double their value at the beginning of the year.
Generally, bank stocks offer stronger prospects for investment than others at the moment as most of the equities in the sector are still low-priced and have good fundamentals.
PREMIUM TIMES has assembled some stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.
The selection, a product of analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that equities will increase in value with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
FCMB Group
FCMB Group tops this week’s pick for trading significantly below its underlying value. The price-to-book (PB) ratio of the financial services group is 0.3x; its price-to-earnings (PE) is 1x.
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Lasaco Assurance
Lasaco makes this week’s list for trading significantly below its intrinsic value, brightening its chances of good price appreciation in the future. The underwriter’s PB ratio is 0.3x, while the PE ratio is 2.8x.
Ikeja Hotel
Ikeja Hotel features on this week’s list for currently trading below its intrinsic value. The company’s PB ratio is 0.8x, while the PE ratio is 2.5x.
NASCON
NASCON appears in the pick for trading close to its lowest price in 52 weeks. Its PB ratio is 2.5x, while the PE ratio is 6.6x.
AIICO Insurance
AIICO Insurance appears on the list for trading significantly below its underlying value.
ALSO READ: Fidelity Bank, UBA, Prestige Assurance top stocks pick this week
The insurer’s PB ratio is 0.7x, while its PE ratio is 2.2x.
Veritas Kapital
Veritas Kapital makes the cut for currently trading below its intrinsic value. The underwriter’s PB ratio is currently 1.9x, while the PE ratio is 1.7x.
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