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Stock Recommendations

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 140 151.52 8% 9.5x 3.2x 5.0% HOLD
PRESCO 125 114.14 -11% 6.6x 2.7x 2.4% SELL
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 10.65 11.07 4% 12.8x 0.7x 6.1% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.95 9.46 6% 20.3x 1.2x 2.0% HOLD
DANGSUGAR 16 21.65 35% 8.8x 1.5x 6.3% BUY
FLOURMILL 31.5 37.53 19% 4.8x 0.7x 5.2% BUY
GUINNESS 65 67.89 4% 13.7x 1.7x 0.7% HOLD
NB 46 50.36 9% 29.3x 2.1x 3.5% HOLD
NESTLE 1435 1,544.54 8% 28.4x 53.2x 3.5% HOLD
PZ 7.35 7.60 3% 9.1x 0.9x 3.4% HOLD
UNILEVER 13.2 14.52 10% 21.6x 1.2x 0.0% HOLD
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 10.15 12.16 20% 2.8x 0.4x 8.4% BUY
FBNH 11.55 10.99 -5% 5.4x 0.5x 3.9% SELL
FIDELITYBK 2.85 3.34 17% 2.2x 0.3x 7.7% BUY
GTCO 27 38.20 41% 4.4x 0.9x 11.1% BUY
STANBIC 34.5 40.54 18% 8.2x 1.0x 13.3% BUY
UBA 8.55 13.52 58% 2.5x 0.4x 11.7% BUY
ZENITHBANK 27 33.61 24% 3.5x 0.7x 11.5% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 206 231.92 13% 14.2x 17.0x 6.4% BUY
AIRTELAFRI 1260 1,012.31 -20% 20.4x 3.7x 1.5% SELL
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 70.75 43.23 -39% 26.1x 6.0x 2.9% SELL
DANGCEM 273.5 291.89 7% 12.9x 4.8x 7.3% HOLD
WAPCO 23.5 32.70 39% 7.4x 1.0x 8.5% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 11.95 20.33 70% - 1.0x 0.0% BUY
SEPLAT 990 905.22 -9% 10.1x 0.9x 4.2% SELL
TOTAL 264.9 298.37 13% 5.4x 2.2x 3.8% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 127.8 145.52 14% 8.7x 2.9x 5.5% BUY
PRESCO 104 114.59 10% 5.5x 2.2x 2.9% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 10 9.94 -1% 15.4x 0.6x 6.5% SELL
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.95 8.17 -9% 10.5x 1.1x 2.0% SELL
DANGSUGAR 17 21.79 28% 11.3x 1.6x 8.8% BUY
FLOURMILL 32 37.53 17% 4.9x 0.7x 5.2% BUY
GUINNESS 68 64.26 -5% 14.3x 1.7x 0.7% SELL
NB 48 52.47 9% 30.6x 2.2x 3.3% HOLD
NESTLE 1435 1,563.33 9% 27.8x 35.4x 4.2% HOLD
PZ 7 6.09 -13% 15.2x 0.8x 3.6% SELL
UNILEVER 14.05 14.02 0% - 1.3x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 10.35 12.07 17% 2.9x 0.4x 8.2% BUY
FBNH 11.55 10.58 -8% 5.4x 0.5x 3.9% SELL
FIDELITYBK 3.06 3.33 9% 2.7x 0.3x 7.2% HOLD
GTCO 26.9 38.20 42% 4.1x 0.9x 11.2% BUY
STANBIC 34.85 40.57 16% 7.9x 1.1x 13.2% BUY
UBA 8.7 13.22 52% 2.2x 0.4x 6.3% BUY
ZENITHBANK 26.95 33.23 23% 3.7x 0.7x 11.1% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 201 230.74 15% 13.8x 16.6x 6.5% BUY
AIRTELAFRI 1260 972.11 -23% 20.4x 3.7x 1.5% SELL
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 70.75 43.15 -39% 26.1x 6.0x 2.9% SELL
DANGCEM 273.5 290.35 6% 13.6x 4.8x 5.9% HOLD
WAPCO 26.3 31.11 18% 9.9x 1.1x 7.6% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13 19.05 47% 14.1x 0.8x 1.5% BUY
SEPLAT 859.9 901.14 5% 19.0x 0.8x 6.0% HOLD
TOTAL 264.9 298.24 13% 5.4x 2.2x 3.8% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 127.8 142.75 12% 8.7x 2.9x 5.5% BUY
PRESCO 104 114.59 10% 5.5x 2.2x 2.9% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 10 9.94 -1% 15.4x 0.6x 6.5% SELL
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.95 8.17 -9% 10.5x 1.1x 2.0% SELL
DANGSUGAR 18.3 21.79 19% 12.1x 1.8x 8.2% BUY
FLOURMILL 35.1 38.78 10% 5.4x 0.7x 4.7% BUY
GUINNESS 70 51.24 -27% 14.8x 1.8x 0.7% SELL
NB 48 51.79 8% 30.6x 2.2x 3.3% HOLD
NESTLE 1435 1,563.33 9% 27.8x 35.4x 4.2% HOLD
PZ 6.8 6.09 -10% 14.8x 0.8x 3.7% SELL
UNILEVER 13.95 13.20 -5% - 1.3x 0.0% HOLD
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 10.5 12.07 15% 2.9x 0.4x 8.1% BUY
FBNH 11.2 10.58 -6% 5.2x 0.5x 4.0% SELL
FIDELITYBK 2.93 3.33 14% 2.6x 0.3x 7.5% BUY
GTCO 26.6 36.20 36% 4.0x 0.9x 11.3% BUY
STANBIC 34.55 39.88 15% 7.8x 1.1x 13.3% BUY
UBA 8.7 13.22 52% 2.2x 0.4x 6.3% BUY
ZENITHBANK 26.9 33.00 23% 3.6x 0.7x 11.2% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 198 225.11 14% 13.6x 16.3x 6.6% BUY
AIRTELAFRI 1271 926.71 -27% 20.6x 3.7x 1.5% SELL
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 70.75 43.15 -39% 26.1x 6.0x 2.9% SELL
DANGCEM 274.8 290.32 6% 13.7x 4.8x 5.8% HOLD
WAPCO 26.75 31.60 18% 10.0x 1.1x 7.5% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 12.9 19.05 48% 14.0x 0.8x 1.5% BUY
SEPLAT 850 895.39 5% 18.8x 0.7x 6.0% HOLD
TOTAL 264.9 295.62 12% 5.4x 2.2x 3.8% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 127.8 142.75 12% 8.7x 2.9x 5.5% BUY
PRESCO 104 114.59 10% 5.5x 2.2x 2.9% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9 9.94 10% 13.8x 0.5x 7.2% BUY
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.65 8.17 -6% 10.2x 1.1x 2.1% SELL
DANGSUGAR 17.6 21.79 24% 11.7x 1.7x 8.5% BUY
FLOURMILL 32.3 38.78 20% 4.9x 0.7x 5.1% BUY
GUINNESS 60.5 51.24 -15% 97.6x 2.2x 0.0% SELL
NB 47.95 51.79 8% 44.8x 2.3x 2.8% HOLD
NESTLE 1435 1,563.33 9% 27.8x 35.4x 4.2% HOLD
PZ 6.45 6.09 -6% 14.0x 0.8x 3.9% SELL
UNILEVER 13.15 13.20 0% - 1.2x 0.0% HOLD
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 10.5 12.07 15% 2.9x 0.4x 8.1% BUY
FBNH 11.2 10.58 -6% 5.2x 0.5x 4.0% SELL
FIDELITYBK 2.93 3.33 14% 2.6x 0.3x 7.5% BUY
GTCO 26.6 36.20 36% 4.0x 0.9x 11.3% BUY
STANBIC 34.55 39.88 15% 7.8x 1.1x 13.3% BUY
UBA 8.7 13.22 52% 2.2x 0.4x 6.3% BUY
ZENITHBANK 26.9 33.00 23% 3.6x 0.7x 11.2% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 198 225.11 14% 13.6x 16.3x 6.6% BUY
AIRTELAFRI 1271 926.71 -27% 20.6x 3.7x 1.5% SELL
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 70.75 43.15 -39% 26.1x 6.0x 2.9% SELL
DANGCEM 274.8 290.32 6% 13.7x 4.8x 5.8% HOLD
WAPCO 26.75 31.60 18% 10.0x 1.1x 7.5% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 12.9 19.05 48% 14.0x 0.8x 1.5% BUY
SEPLAT 850 895.39 5% 18.8x 0.7x 6.0% HOLD
TOTAL 264.9 295.62 12% 5.4x 2.2x 3.8% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 141.70 0% 9.4x 3.2x 4.9% SELL
PRESCO 94.5 110.43 17% 6.7x 2.1x 3.2% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9 9.86 10% 13.8x 0.5x 7.2% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.7 8.17 -6% 10.2x 1.1x 2.1% SELL
DANGSUGAR 17.5 21.39 22% 11.6x 1.7x 8.6% BUY
FLOURMILL 29.2 38.89 33% 4.5x 0.6x 5.7% BUY
GUINNESS 48.55 42.84 -12% 78.3x 1.7x 0.0% SELL
NB 48 50.46 5% 44.9x 2.3x 2.8% HOLD
NESTLE 1435 1,552.79 8% 27.8x 35.4x 4.2% HOLD
PZ 6.95 4.58 -34% 15.1x 0.8x 3.6% SELL
UNILEVER 13.75 12.92 -6% - 1.3x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 10.2 11.57 13% 2.9x 0.4x 8.3% BUY
FBNH 11.1 10.68 -4% 5.2x 0.5x 4.1% SELL
FIDELITYBK 2.85 3.17 11% 2.5x 0.3x 7.7% BUY
GTCO 27.5 34.20 24% 4.1x 0.9x 10.9% BUY
STANBIC 35 41.19 18% 7.9x 1.1x 13.1% BUY
UBA 8.55 12.90 51% 2.1x 0.4x 6.4% BUY
ZENITHBANK 26.35 32.74 24% 3.6x 0.7x 11.4% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 200.3 223.14 11% 13.8x 16.5x 5.2% BUY
AIRTELAFRI 1271 932.69 -27% 20.6x 3.7x 1.5% SELL
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 70.75 43.15 -39% 0.4x 7.2x 2.9% SELL
DANGCEM 274.8 289.07 5% 13.7x 4.8x 5.8% HOLD
WAPCO 26.5 31.74 20% 9.9x 1.1x 7.5% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 12.7 19.05 50% 13.8x 0.8x 1.5% BUY
SEPLAT 870 791.87 0% 17.5x 0.7x 6.5% HOLD
TOTAL 241 268.12 11% 5.5x 2.1x 4.2% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 141.70 0% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 110.43 26% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9 9.86 10% 13.8x 0.5x 7.2% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.7 8.17 -6% 10.2x 1.1x 2.1% SELL
DANGSUGAR 17.45 21.07 21% 11.6x 1.7x 8.6% BUY
FLOURMILL 28.55 38.88 36% 4.4x 0.6x 5.8% BUY
GUINNESS 48.1 41.79 -13% 77.6x 1.7x 0.0% SELL
NB 48.5 50.97 5% 45.3x 2.3x 2.8% HOLD
NESTLE 1435 1,568.79 9% 27.8x 35.4x 4.2% HOLD
PZ 7 4.58 -35% 15.2x 0.8x 3.6% SELL
UNILEVER 14 12.79 -9% - 1.3x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9.85 12.25 24% 2.8x 0.4x 8.6% BUY
FBNH 11.95 10.68 -11% 5.6x 0.5x 3.8% SELL
FIDELITYBK 2.72 3.12 15% 2.4x 0.3x 8.1% BUY
GTCO 25.65 37.93 48% 3.9x 0.9x 11.7% BUY
STANBIC 35.75 42.67 19% 8.1x 1.1x 12.9% BUY
UBA 8.45 13.07 55% 2.1x 0.3x 6.5% BUY
ZENITHBANK 25.75 33.13 29% 3.5x 0.6x 11.7% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 190 221.45 17% 13.1x 15.7x 5.5% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 69.95 43.15 -38% 0.4x 7.2x 3.0% SELL
DANGCEM 260.6 292.13 12% 13.0x 4.6x 6.1% HOLD
WAPCO 25.6 32.08 25% 9.6x 1.1x 7.8% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 12.9 19.05 48% 14.0x 0.8x 1.5% BUY
SEPLAT 790 791.15 0% 17.5x 0.7x 6.5% HOLD
TOTAL 241 268.12 11% 5.5x 2.1x 4.2% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 138.56 -2% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 110.22 26% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9.15 9.86 8% 14.1x 0.5x 7.1% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 9.5 8.17 -14% 11.2x 1.2x 1.9% SELL
DANGSUGAR 17.75 21.07 19% 11.8x 1.7x 8.5% BUY
FLOURMILL 28.55 38.88 36% 4.4x 0.6x 5.8% BUY
GUINNESS 42.2 40.95 -3% 68.1x 1.5x 0.0% SELL
NB 48 51.07 6% 44.9x 2.3x 2.8% HOLD
NESTLE 1435 1,543.95 8% 27.8x 35.4x 4.2% HOLD
PZ 7 4.58 -35% 15.2x 0.8x 3.6% SELL
UNILEVER 13.2 12.79 -3% - 1.2x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9.75 12.14 25% 2.7x 0.4x 8.7% BUY
FBNH 12 10.68 -11% 5.6x 0.5x 3.8% SELL
FIDELITYBK 2.66 3.08 16% 2.3x 0.3x 8.3% BUY
GTCO 25.8 35.60 38% 3.9x 0.9x 11.6% BUY
STANBIC 35.9 43.39 21% 8.1x 1.1x 12.8% BUY
UBA 8.2 13.43 64% 2.1x 0.3x 6.7% BUY
ZENITHBANK 25.8 32.93 28% 3.5x 0.6x 11.6% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 190 221.45 17% 13.1x 15.7x 5.5% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 71.4 42.90 -40% 0.4x 7.3x 2.9% SELL
DANGCEM 284.9 289.52 2% 14.2x 5.0x 5.6% HOLD
WAPCO 25.4 31.97 26% 9.5x 1.1x 7.9% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.1 19.05 45% 14.2x 0.8x 1.5% BUY
SEPLAT 755.1 791.15 5% 16.7x 0.7x 6.8% HOLD
TOTAL 221.9 268.12 21% 5.0x 1.9x 4.5% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 138.56 -2% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 110.22 26% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9.1 9.51 5% 14.0x 0.5x 7.1% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.8 8.17 -7% 10.3x 1.1x 2.0% SELL
DANGSUGAR 17 21.39 26% 11.3x 1.6x 8.8% BUY
FLOURMILL 28.25 40.58 44% 4.4x 0.6x 5.8% BUY
GUINNESS 42.2 40.35 -4% 68.1x 1.5x 0.0% SELL
NB 46 50.91 11% 43.0x 2.2x 2.9% BUY
NESTLE 1435 1,541.55 7% 27.8x 35.4x 4.2% HOLD
PZ 7.15 4.58 -36% 15.5x 0.9x 3.5% SELL
UNILEVER 13.2 12.79 -3% - 1.2x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9.5 12.28 29% 2.7x 0.4x 8.9% BUY
FBNH 12 10.68 -11% 5.6x 0.5x 3.8% SELL
FIDELITYBK 2.6 3.08 18% 2.3x 0.3x 8.5% BUY
GTCO 25.2 35.60 41% 3.8x 0.8x 11.9% BUY
STANBIC 37 43.71 18% 8.4x 1.1x 12.4% BUY
UBA 8.25 13.43 63% 2.1x 0.3x 6.7% BUY
ZENITHBANK 25.5 32.93 29% 3.5x 0.6x 11.8% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 190 221.79 17% 13.1x 15.7x 5.5% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 68.5 42.90 -37% 0.4x 7.0x 3.0% SELL
DANGCEM 270 290.82 8% 13.4x 4.7x 5.9% HOLD
WAPCO 25.8 31.97 24% 9.7x 1.1x 7.8% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.45 19.12 42% 14.6x 0.9x 1.4% BUY
SEPLAT 690 782.99 13% 15.3x 0.6x 7.4% BUY
TOTAL 221.9 266.09 20% 5.0x 1.9x 4.5% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 118.48 -17% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 105.20 20% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9.5 9.51 0% 14.6x 0.5x 6.8% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 8.7 8.17 -6% 10.2x 1.1x 2.1% SELL
DANGSUGAR 17 20.86 23% 11.3x 1.6x 8.8% BUY
FLOURMILL 28.3 39.40 39% 4.4x 0.6x 5.8% BUY
GUINNESS 39 41.78 7% 62.9x 1.4x 0.0% HOLD
NB 48 53.20 11% 44.9x 2.3x 2.8% BUY
NESTLE 1395 1,552.81 11% 27.1x 34.4x 4.3% BUY
PZ 6.25 4.58 -27% 13.6x 0.7x 4.0% SELL
UNILEVER 13.35 13.20 -1% - 1.2x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9.05 12.11 34% 2.5x 0.4x 9.4% BUY
FBNH 12.05 10.95 -9% 5.6x 0.5x 3.7% SELL
FIDELITYBK 2.52 3.28 30% 2.2x 0.3x 8.7% BUY
GTCO 25.6 35.60 39% 3.9x 0.9x 11.7% BUY
STANBIC 36 43.71 21% 8.1x 1.1x 12.8% BUY
UBA 8 14.05 76% 2.0x 0.3x 6.9% BUY
ZENITHBANK 24.8 32.76 32% 3.4x 0.6x 12.1% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 187 224.56 20% 12.9x 15.4x 5.6% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 74.5 49.74 -33% 0.4x 7.6x 2.8% SELL
DANGCEM 255 285.64 12% 12.7x 4.5x 6.3% BUY
WAPCO 24 30.95 29% 9.0x 1.0x 8.3% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.4 17.78 33% 14.6x 0.9x 1.4% BUY
SEPLAT 650 778.33 20% 14.4x 0.6x 7.9% BUY
TOTAL 221.9 304.29 37% 5.0x 1.9x 4.5% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 118.48 -17% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 105.20 20% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 9.2 9.51 -3% 14.2x 0.5x 7.1% HOLD
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 9. 8.17 -9% 10.6x 1.1x 2.0% SELL
DANGSUGAR 15.95 20.66 29% 10.6x 1.5x 9.4% BUY
FLOURMILL 28.3 39.46 39% 4.4x 0.6x 5.8% BUY
GUINNESS 39 41.78 7% 62.9x 1.4x 0.0% HOLD
NB 47 51.88 10% 43.9x 2.3x 2.9% BUY
NESTLE 1395 1,544.43 11% 27.1x 34.4x 4.3% BUY
PZ 6 4.58 -24% 13.0x 0.7x 4.2% SELL
UNILEVER 13.2 13.18 0% - 1.2x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9.15 12.58 37% 2.6x 0.4x 9.3% BUY
FBNH 11.9 11.05 -7% 5.5x 0.5x 3.8% SELL
FIDELITYBK 2.54 3.24 27% 2.2x 0.3x 8.7% BUY
GTCO 26.5 35.60 34% 4.0x 0.9x 11.3% BUY
STANBIC 36.5 43.99 21% 8.3x 1.1x 12.6% BUY
UBA 8.05 13.58 69% 2.0x 0.3x 6.8% BUY
ZENITHBANK 25.5 32.65 28% 3.5x 0.6x 11.8% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 174.5 222.76 28% 12.0x 14.4x 6.0% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 74.5 49.74 -33% 0.4x 7.6x 2.8% SELL
DANGCEM 252 280.08 11% 12.5x 4.4x 6.3% BUY
WAPCO 24.85 30.81 24% 9.3x 1.0x 8.0% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.6 17.78 31% 14.8x 0.9x 1.4% BUY
SEPLAT 650.1 781.52 20% 14.4x 0.6x 7.9% BUY
TOTAL 216.8 304.29 40% 4.9x 1.9x 4.6% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 118.48 -17% 9.4x 3.2x 4.9% SELL
PRESCO 87.8 105.20 20% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 10 9.51 -5% 15.4x 0.6x 6.5% SELL
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 9.25 8.17 -12% 10.9x 1.2x 1.9% SELL
DANGSUGAR 16 20.66 29% 10.6x 1.6x 9.4% BUY
FLOURMILL 28.95 39.46 36% 4.5x 0.6x 5.7% BUY
GUINNESS 36.3 40.60 12% 58.5x 1.3x 0.0% BUY
NB 46.95 51.88 11% 43.9x 2.3x 2.9% BUY
NESTLE 1395 1,544.43 11% 27.1x 34.4x 4.3% BUY
PZ 5.95 4.58 -23% 12.9x 0.7x 4.2% SELL
UNILEVER 13.75 13.18 -4% - 1.3x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 8.9 12.35 39% 2.5x 0.4x 9.6% BUY
FBNH 11.8 11.10 -6% 5.5x 0.5x 3.8% SELL
FIDELITYBK 2.5 3.24 30% 2.2x 0.3x 8.8% BUY
GTCO 24.1 35.60 48% 3.6x 0.8x 12.4% BUY
STANBIC 37 43.99 19% 8.4x 1.1x 12.4% BUY
UBA 7.9 13.58 72% 2.0x 0.3x 7.0% BUY
ZENITHBANK 23.5 33.15 41% 3.2x 0.6x 12.8% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 167 222.76 33% 11.5x 13.8x 6.3% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 74.5 49.74 -33% 0.4x 7.6x 2.8% SELL
DANGCEM 280 280.08 0% 13.9x 4.9x 5.7% HOLD
WAPCO 24.65 32.25 31% 9.2x 1.0x 8.1% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.6 17.78 31% 14.8x 0.9x 1.4% BUY
SEPLAT 650 790.56 22% 14.4x 0.6x 7.9% BUY
TOTAL 216.8 302.15 39% 4.9x 1.9x 4.6% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.

AGRICULTURE Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
OKOMUOIL 142 118.48 -17% 9.4x 3.2x 4.9% SELL
PRESCO 88.9 98.45 11% 6.3x 2.0x 3.4% BUY
CONGLOMERATES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
UACN 10 9.51 -5% 15.4x 0.6x 6.5% SELL
CONSUMER GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
CADBURY 9.2 8.17 -11% 10.8x 1.2x 2.0% SELL
DANGSUGAR 16.45 20.66 26% 10.9x 1.6x 9.1% BUY
FLOURMILL 29.5 39.46 34% 4.6x 0.6x 5.6% BUY
GUINNESS 36.6 41.35 13% 59.0x 1.3x 0.0% BUY
NB 46.5 51.88 12% 43.5x 2.2x 2.9% BUY
NESTLE 1395 1,544.43 11% 27.1x 34.4x 4.3% BUY
PZ 6.1 4.58 -25% 13.3x 0.7x 4.1% SELL
UNILEVER 13.85 13.13 -5% - 1.3x 0.0% SELL
FINANCIAL SERVICES Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ACCESS 9 12.35 37% 2.5x 0.4x 9.4% BUY
FBNH 12 11.10 -8% 5.6x 0.5x 3.8% SELL
FIDELITYBK 2.55 3.28 29% 2.2x 0.3x 8.6% BUY
GTCO 25 35.60 42% 3.8x 0.8x 12.0% BUY
STANBIC 38 43.99 16% 8.6x 1.2x 12.1% BUY
UBA 8.1 13.58 68% 2.0x 0.3x 6.8% BUY
ZENITHBANK 24.35 32.97 35% 3.3x 0.6x 12.3% BUY
ICT Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
MTNN 190 222.76 17% 13.1x 15.7x 5.5% BUY
INDUSTRIAL GOODS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
BUACEMENT 74.5 49.74 -33% 0.4x 7.6x 2.8% SELL
DANGCEM 280 276.37 -1% 13.9x 4.9x 5.7% SELL
WAPCO 25 32.25 29% 9.4x 1.0x 8.0% BUY
OIL AND GAS Price Analysts' Consensus Upside P/E P/B Dividend Yield Recommendation
ARDOVA 13.6 17.78 31% 14.8x 0.9x 1.4% BUY
SEPLAT 695 790.56 14% 15.4x 0.6x 7.4% BUY
TOTAL 216.8 302.15 39% 4.9x 1.9x 4.6% BUY

DISCLAIMER NOTICE: Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested. This document is solely for informational purposes and should not be misconstrued as providing individually tailored investment advice of any kind. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The appropriateness of a particular investment will depend on an investor’s individual circumstances and objectives. The investments and shares referred to in this document may not be suitable for all investors.