TRANSCORP | Transnational Corporation Of Nigeria - Company Update : BUY rating maintained

    In this report, we update our 12-month target price (TP) for Transnational Corporation Plc (TRANSCORP) in line with our improved earnings outlook for the power and the hospitality businesses. We consolidate our views on the company’s subsidiaries (TRANSPOWER and TRANSCOHOT), whilst explaining the impact on overall valuation. The adoption of a valuation by parts methodology on the constituent segments resulted in a 12-month TP of N39.29 (vs N32.59 previously) and an unchanged BUY recommendation on the stock.

     

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