The Afrinvest weekly sentiment weakened to 1.7x from 3.6x recorded in the prior week Despite the downbeat investor sentiment, we expect the market to trend upwards as investors continue to react to corporate earnings results.
Valuation Update
Based on our ongoing assessment of the recent earnings numbers of our coverage universe, we have updated our 12-month target price for NB and GUINNESS due to material changes in their underlying fundamentals.
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