3 changes to ICTOP10 stocks

The Jamaica Stock Exchange remained fairly stable in the past week with the Main Markets falling a mere 2,000 points and the Junior Market recorded a modest gain. The movements in both markets suggest they may have started to benefit from falling interest rates in the financial market.
In the Junior Market TOP10, Image Plus rallied by 8 percent during the week to $1.67, tTech also gained 8 percent to close at $2.19 but Iron Rock Insurance dropped 11 percent to $3.55.
In the Main Market ICTOP 10, General Accident fell 6 percent to close at $6.50 and Key Insurance declined by 4 percent to $2.77. There were no other notable price changes in this market.
Jamaica Broilers ended the week with a moderate earnings downgrade to $5.50 from $5.75, dropped out of the TOP10 and was replaced by NCB Financial Group, with projected earnings of $8.50 and a price of $52 and having the potential to hit a price of $160 in 2025. The Junior Market ICTOP10 lost Stationery & Office Supplies, with an earnings downgrade to 16 cents from 22 cents, with Lasco Financial replacing it.
The All JSE TOP10 had one new listing with tTech dropping out, to be replaced by General Accident Insurance. The All JSE TOP10 includes ten stocks listed on the Jamaica Stock Exchange with the highest potential gains, based on projected 2024 earnings. This list is more exacting than the Junior and Main Market TOP10 lists.
The average PE for the JSE Main Market ICTOP 10 stands at 4.9, well below the market average of 14.3 and the Junior Market TOP10 sits at 6.4, just more than half of the market, with an average of 12.5.
The Main Market ICTOP10 is projected to gain an average of 323 percent by May 2025, based on 2024 forecasted earnings and providing better values than the Junior Market with the potential to achieve 229 percent over the same period.
In the Main Market ICTOP 10, a total of 16 of the most highly valued stocks representing 31 percent of the Main Market have PEs between 15 to 107, with an average of 29 and 20 excluding the highest PE ratios, and a PE of 23 for the top half of the market with the highest values and 17 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 10 stocks, 21 percent of the market, with PEs ranging from 15 to 22 and a PE of 17 for half of the market with the highest values.
ICTOP10 focuses on likely yearly winners, accordingly, the list includes some of the best companies in the market, but this is not always so. ICInsider.com ranks stocks based on projected earnings, allowing investors to focus on the most undervalued stocks and helping to remove emotions in selecting stocks for investments that often result in costly mistakes.
IC TOP10 stocks will likely deliver the best returns on or around May 2025 and are ranked in order of potential gains, computed using projected earnings for the current fiscal year. Expected values will change as stock prices fluctuate, resulting in weekly movements in and out of the lists. Revisions to earnings are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.