Ecobank: Analysts See 34% Upside at Current Market Price
Rated buy, Ecobank Transnational Incorporation (ETI) Plc is estimated to have about 34% upside potential. The Pan African lender earnings per share is forecasted to grow to 26 kobo by Cowry Asset Management Limited.
Equity research analysts at the investment banking firm estimated N34.80 as price target for the Pan African lender. According to data from the Nigerian Exchange (NGX), Ticker: ETI ended the just concluded week at N26 per share.
The financial service stock has seen more than 6% gain in the last seven trading session despite bearish trend in the domestic bourse, up from N24.50, according to information from the Nigerian Exchange.
Ecobank capital base is currently more than N200 billion regulatory capital base for Tier-2 lender in the country. The Pan African lender has not announce possible capital raise amidst general jittery in the banking sector.
With 18.349 billion outstanding shares, Ecobank group worth N477 billion, according to information obtained from the Nigerian Exchange. Details from Cowry Asset Management weekly share recommendation indicated that ETi has a 33.85% upside potential at the current market price.
