Dangote cement, Fidelity bank, Sovereign Trust top stocks to watch this week

Nigerian stocks clawed their way back to recovery on Friday, ending long gloomy days during which share prices faced the most prolonged pressure since February 9.

All but one trading session ended in a loss last week, with the development, market trends and corporate actions shaping PREMIUM TIMES Stocks to Watch.

We have put together a number of stocks you should look out for this week on the premise of how the market fared last week and some fundamental factors.

PREMIUM TIMES Stocks to Watch collates equities with a potential for a good return on investment.

An investor may randomly assemble a range of stocks for investment purposes. But we have done ours by adopting rigorous analytical approaches to save you that hassle.

This is not a buy, sell or hold recommendation. You may have to involve your financial advisor before making investment decisions.

Dangote Cement PLC

Dangote Cement tops our list on its proposal to launch the next phase of its stock repurchase, aiming to curb the availability of its outstanding shares in the open market by up to one-tenth in all in a move to bolster its share price.

Its Earnings Per Share (EPS) is N17.83, while its Price to Earnings (PE) ratio is 11.92.

Fidelity Bank PLC

Fidelity Bank makes our list for currently trading well below its intrinsic value. It is currently priced at N2.28 per unit, has a PE ratio of 2.26 and EPS of N1.

Sovereign Trust Insurance PLC

Sovereign Trust appears on our list on the basis of trading lower than its real value. It is quoted at N0.27 per share, has a PE ratio of 3.62 and an EPS of N0.08.