140% jump in past week for JSE stock

Major moves in the past week in the main market indices of the Jamaica Stock Exchange saw the market indices climbing sharply on three days, with more than 8,000 points on Thursday, more than 5,000 points move on Tuesday and one with over 2,300 points on Monday.
By the close on Friday, the market rose more than 7 percent in the week.
Jamaica Stock Exchange jumped sharply during the week by 140 percent, to $13.50 and joined Cargo Handlers, Kingston Wharves and Jamaica Producers with PE in excess of 30 times 2017 projected earnings. During the past week of rapid gains in some stocks, Radio Jamaica, Barita Investments, JMMB Group, Berger Paints and Scotia Investments all recorded gains during the week, with each hitting new 52 weeks’ highs.
The week closed with the full slate of stocks remaining in the IS Insider’s TOP 10. During the week Pulse Investments released quarterly results to December, with slightly lower profit for the quarter than in 2015 but with improved six months numbers over 2015.
The target PE used in the projecting prices is based on the market’s PE for 2016 earnings, for 12 stocks in the junior market and 11 in the main market that are selling around this level, with some well over.