Fidelity Bank: Analysts See 84% Upside on New Target Price

Equities analysts upgraded Fidelity Bank Plc’s 12 months target price to N35.01, reflecting positive expectations of the lender’s future earnings performance. 

In its stock recommendation this week, equities analysts at Afrinvest Securities Limited significantly increased their target price expectation on Fidelity Bank Plc from N18.30.

Stock analysts also keep the bank’s share in buy bucket at the current market price of N19 since last week.  Afrinvest Securities Limited new target price signals 84.3% upside potential to Fidelity Bank current valuation on Nigerian Exchange.

A details look into the investment firm stock recommendation lists show that Afrinvest Securities Limited has strong positive expectation about the lender’s ability to deliver returns.

Analysts’ stock lists showed that Fidelity Bank Plc has the highest upside potential, followed by Wema Bank, and then Ecobank Plc. 

Despite sell pressures that plunge the banking index down for seven trading days, the Fidelity bank’s share price continues to buck the negative trend in the local bourse.

Fidelity Bank’s share price has been hovering around N19 in the last seven trading sessions in the local bourse as the market anticipates its earnings will drive the next rally. GTCO Falls, Investors Exit Position after Earnings Disappoint

The post Fidelity Bank: Analysts See 84% Upside on New Target Price appeared first on MarketForces Africa.