10 cheap stocks on NGX for strategic entry

The Nigerian stock market last week closed on a positive note with 1.51% growth, week on week. Year to date, the market has returned 14.43% with All Share Index and Market Capitalisation at 48,881.93 points and N26.625 trillion respectively.

Prices of some stocks have started looking up gradually, although most stocks are still trading far below their fair value.

We have always advised investors to take position in fundamentally sound stocks because they stand the test of time. Just to mention a few, the following stocks can be considered for strategic entry:

ZENITH BANK

Zenith Bank is currently trading at N22.10 and has touched a high of N27.5 and a low of N18.90 in the past 52 weeks.

It is trading 19.64% away from its 52 weeks high of N27.50, which implies an uptrend potential of about 20% for the share price of the bank.

Going by its Book Value of N41.68, relative to its current price of N22.10, Zenith Bank is very cheap and embedded with growth potentials.

GTCO

The share price of GTCO is currently trading at N21 and it has touched a high of N28.05 and a low of N16.80 in the last 52 weeks.

It is trading 25.13% away from its year high of N28.05, which implies an uptrend potential of about 25% for GTCO.

The Book Value of N29.66, relative to the current price of N21 implies that GTCO is underpriced.

ACCESS HOLDINGS

Access Holdings is currently trading at the share price of N8.55. In the past 52 weeks, the stock has touched a high of N10.60 and a low of N7.50.

It is trading 19.34% away from its 52 weeks high of N10.60, which implies an uptrend potential of 19% for Access Holdings.

With the Book Value of N29.11, Access Holdings is considered very cheap, relative to its current share price of N8.55.

UBA

UBA is currently trading at N7.4 with a 52 weeks high of N8.85 and a low of N6.55.

It is trading 16.38% away from its 52 weeks high of N8.85, implying an uptrend potential of about 16% for UBA.

Considering its Book Value of N23.64, relative to its share price of N7.4, UBA is underpriced. A position in UBA has uptrend potentials.

FLOUR MILLS

Flour Mills is currently trading at N27.6 with a 52 weeks high of N41.45 and a low of N27.

It is trading 33.41% away from its 52 weeks high of N41.45, implying an uptrend potential of about 33% for Flour Mills.

Considering its Book Value of N47.82, relative to its share price of N27.6, Flour Mills of Nigeria is considered cheap and has uptrend potential.

PRESCO

Currently trading at N120.5, the share price of Presco has a year high of N200 and year low of N87.8.

There is an uptrend potential of 39.75% in the share price of Presco, relative to its 52 weeks high of N200.

GUINNESS

Currently trading at N69.3, the share price of Guinness has touched a high of N110 and a low of N39 in the past 52 weeks.

Guinness has an uptrend potential of 37%, relative to its 52 weeks high of N110.

NIGERIAN BREWERIES

The share price of Nigerian is currently trading at N38.5 with a 52 weeks high of N62.8 and a low of N28.8.

It is trading 38.69% away from its 52 weeks high of N62.8, suggesting an uptrend potential of about 39% for Nigerian Breweries.

FIDSON

Currently trading at N8.84, the share price of Fidson has a year high of N11.49 and year low of N5.45.

There is an uptrend potential of 23.06% in the share price of Fidson, relative to its 52 weeks high of N11.49.

OKOMU

Currently trading at N167.50, the share price of Okomu has a year high of N216.9 and year low of N127.8.

There is an uptrend potential of 22.78% in the share price of Okomu Oil, relative to its 52 weeks high of N216.9.

Source: 10 cheap stocks on NGX for strategic entry – StocksWatch (stocksng.com)

Your Comment:

Related Posts

18

Jan
Business & Economy

FAAC shared N990bn among FG, states and LGs in December 2022

The Federation Account Allocation Committee (FAAC), has disclosed that it shared a total  of N990.189 billion to the three tiers of government, as Federation Allocation for the month of December 2022. The amount is inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Exchange Gain and Electronic Money Transfer Levies (EMTL). The Federal Government received N375.306 billion, the states […]

18

Jan
Business & Economy

Stock Market Review: January 18, 2023

The Nigerian stock market on Tuesday closed on a positive note with 0.67% growth. Year to date, the market has returned, 2.83% with the All Share Index and the Market Capitalisation at 52,701.31 points and N28.705 trillion respectively. In a stock market review with the MD/CEO of Global View Capital Limited, Aruna Kebira, the following were discussed:[…]