FBN Holdings Sees 57% Jump in Valuation to N422 Bn in 30 Days

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FBN Holdings gets a valuation boost as investors key into earnings prospects for the financial year 2021 amidst a tough operating environment and unfavourable developments in the financial markets.
One of the top Nigerian lenders has seen a meteoric jump in stock market valuation in the last 30-days, nearing N422 billion. On Monday, equity analysts at Afrinvest Limited had issued a sell alert on the stock. Afrinvest Issues Buy Alert on FMN Plc, Ecobank Shares
Regrettably, the alert, if followed could have hurt investors, shareholders that stick to the advice as Tier 1 bank outperformed key market indicators following increased investors interest.
In an equity report, CSL Stockbrokers Limited had set a target price at N12.13 before it could possibly issue a sell alert. In a surprise turn of an event, after falling below N7.85 at the beginning of the year