OBYNOWISE

  NIGERIAN STOCK MARKET PROJECTIONS 2008 (2ND QUARTER)

1. COSTAIN  -  12 months Target price  N80

•   Reason - The company is currently recapitalised and now

                        posses strong growth prospect as evidenced in the

                        increasing sales contracts to the government agencies  

                        and parastatals  as well as private sector.       

                       They are diversifying their portfolio by creating more

                       subsidiaries and strategic equity acqusation   

                       in some related companies.

2. CORNERSTONE  -  12 months Target price N8

•   Reason - There are presence of insttutional investors.

                          They have sound management team & good   

                          products. 

3. DIAMOND BANK - 12 months Target price N28 

•  Reason - They have good EPS, low PE & growth ratio, focused

                         management team & the expectation of good result.

4. NEM INSUARNCE -12 months Target price N6

•   Reason - Their  first quater result released to the Nigerian

                          stock exchange showed PAT over 400%, with this

                          impressive performance, proactive mangement 

                          team & the planned recapitalization of the company, 

                          its share price will hit  a new mark in the future.

5. RED STAR - 12 months Target price N14

•   Reason - They created additional subsidiaries, sound

                         fundamentals wide market coverage & visionary

                         mangement team are some of the factors that

                         will propel its share price.

6. VITAFOAM - 12 months Target price N18

•   Reason - Growth strategies include branch expansion drive,

                         regular payment of dividend/bonus, sound

                         fundamentals & committed management team

                         are some of the contributory factors that will drive

                         up its share price.

7. INVESTMENT AND ALLIED INSURANCE-12 months Target price N3

•   Reason- They just listed on 9th May 2008 at N1.36/share after

                         their successful private placement. It is currently

                         one of the most capitalized insurance with branches

                         in more than seven states of the federation. it has

                         license to different classes of insurance. Its share

                         price will rally further due to scarcity until it becomes

                         sufficiently avilable for buyers.

8. ECOBANK-12 months Target price N20

•   Reason-Its suspension was lifted on friday 9th May 2008

                       after the failure of the proposed merger with sterling bank.

                      Its share price will rally further due to scarcity until it becomes available.

OTHER STOCKS TO FOCUS ON 

1. UNITY BANK

2. ACCESS BANK 

3. UBN

4. ETERNA OIL

5. WEMA BANK

 6. NAHCO

7. CUSTODIAN AND ALLIED INSURANCE

8. NBL

9. FIDELITY BANK