The week ending April 25 recorded the first positive weekly close of the month, with the All-Share Index rising by 1.46 percent to settle at 105,752.61.
As anticipated, consumer goods stocks led market activity. International Breweries surged 40 percent during the week, while NASCON, Vitafoam Plc, and Cadbury Nigeria posted impressive gains of 26.22 percent, 21.22 percent, and 20.91 percent respectively.
Looking ahead to the week ending May 2, bullish sentiment towards consumer goods is expected to persist, fuelled by the ongoing release of Q1 2025 earnings results. In addition, the newly listed tech company, Legend Internet, is also on our watchlist for the week.
Legend Internet
Legend Internet recorded a 20.92 percent gain during the week ending April 25, following its debut on the exchange at a listing price of N5.64 per share on April 23. As the first internet service provider to be listed, the company has garnered significant investor interest.
While bullish sentiment around the stock is expected to persist, momentum may moderate in the coming week.
Champion Breweries
One of the few consumer goods companies to maintain a profit profile since 2023 posted its most profitable quarter ever, with a N984.6 million net income. It is expected that bullish sentiment on the stock may heighten this week. However, with a P/E ratio of 47.1x, the stock is still highly priced. Year-to-date, Champion Breweries has appreciated by 5 percent.
UBA
Following the announcement of another rights issue scheduled for Q3 2025, UBA shareholders are expected to intensify buying activity. This move would position them to fully participate in the upcoming programme.
UBA has been one of the most actively traded stocks on the NGX in 2025, and this momentum is expected to strengthen in the coming week. While no clear bullish or bearish trend is projected, increased liquidity in the stock is anticipated.
International Breweries
The bullish run of International Breweries is expected to continue this week. Year-to-date, International Breweries has gained 38.7 percent. However, after posting a N29.4 billion net income for Q1 2025, the company is well on track to hit profitability in 2025.
With its total equity at N478.3 billion, IB Plc is positioned to return dividends in 2025 if it hits profitability.
MTN Nigeria
Following a quarter marked by a telecommunications tariff hike, MTN Nigeria’s revenue is expected to post a significant surge. Although the quarterly results are yet to be released, projections suggest the company may deliver the most profitable quarter in its history.
Despite these strong expectations, MTN Nigeria’s share price remains at N255.50, trailing analyst forecasts such as Meristem’s target price of N309.63 and CardinalStone’s estimate of N336.60. With its financial results anticipated this week, the stock firmly earns a spot on the watchlist.
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