Nigerian stocks appreciated marginally by 0.1 percent last week on increased interest in oil and gas stocks.
The market has returned 30.5 percent so far this year, and the Oil and Gas Index leads other sector indices. Energy stocks have more than doubled their value at the start of the year.
Overall, banking stocks offer stronger investment prospects than others right now, as most stocks in the sector are still cheaply priced and have good fundamentals.
PREMIUM TIMES has rounded up some stocks with fundamentals and other potential, taking key analytical approaches to save you the hassle of picking random stocks to invest in.
The selection, the product of analytical observation of the market, offers a guide for entering the market and taking strategic positions in the hope that the shares will increase in value over time.
This is not a buy, sell or hold recommendation, but rather a stock investment guide. You may need to involve your financial advisor before making investment decisions.
FCMB Group
FCMB Group tops this week's selection for trading significantly below its underlying value. The financial services group's price-to-book (PB) ratio is 0.3 times; Its price-earnings (PE) ratio is 1x.
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Lasaco Insurance
Lasaco is listed this week to trade significantly below its intrinsic value, increasing its chances of good price appreciation in the future. The insurer's PB ratio is 0.3x, while the PE ratio is 2.8x.
Hotel Ikeja
Ikeja Hotel makes 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 among those chosen for trading near 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.
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The insurer's PB ratio is 0.7x, while its PE ratio is 2.2x.
Veritas Capital
Veritas Kapital makes the cut for currently trading below its intrinsic value. The insurer's PB ratio is currently 1.9x, while the PE ratio is 1.7x.