In FY’24, we expect a stellar performance from UACN, supported by strong topline growth prospects, insusceptibility to FX volatility, and resilience in the face of difficult macroeconomic conditions through its various strategies. Hence, we have upgraded our 12-month target price (TP) to N21.68 (vs 16.04 previously) with a BUY recommendation (HOLD previously).
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CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer
The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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