Six stocks ended the past week with sizable price changes on the Trinidad and Tobago Stock Exchange in a week when prices of 12 stocks gained 9 declined, a turnaround from the prior week with 9 losing stocks and 6 winners. The week ended with losses in the All Trinidad and Tobago Index falling 1.6 percent, the Combined Index slipping by 0.7 percent, and the SME index surging 10 percent.
The average PE ratio of the market closed at 8.09, up from 7.74 based on 2023 earnings and 5.72 based on estimates of 2024 earnings. The difference illustrates the market’s current undervalued level and the potential gains ahead.
In the financial sector, Ansa Merchant Bank popped $1 to close at $41, Republic Holdings gained $1.04 to end the week at $113.09, First Citizens Bank rose 56 cents to $42.12 and Scotiabank fell $1 to $54. Elsewhere, Ansa McAl lost $6 in closing at $50, Endeavour Holdings rallied $1.85 to $18 and Pont Lisas rose by 22 cents to $3.50.
Stocks with the potential to gain more than 100 percent when the market comes back to life, include CIBC Caribbean Bank which could gain 200 percent, the severely undervalued Guardian Holdings, with a 430 percent potential, Republic Holdings at 140 percent, First Citizens Bank 100 percent, Massy Holdings 50 percent, Trinidad Cement with 330 percent, Eric Solis with a 100 percent potential gain and One Caribbean Media with 315 percent.
Investors should watch Prestige Holdings, with the potential to gain 80 percent and Trinidad and Tobago NGL, with a potential gain of 290 percent.
