Lafarge Africa Plc (NGX: WAPCO) reported an impressive H1'25 performance, anchored by a stronger-than-anticipated Q2 outturn, which saw impressive margin expansion on moderating cost pressures and strong pricing dynamics. Following the release of the result, we revise our 12-month Target Price ("TP") to N198.25 (N116.11 previously), implying a 41.3% upside to our reference price. We retain a BUY recommendation on the ticker.
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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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