Friday, 20th December 2013 | IC Insider has moved Access Financial to the Market Watch list with a hold placed on the stock for the time being as the recent price movement has moved the stock close to full valuation based on estimated 2013 earnings. The Junior Market stock should be held as supply is very low and the price should move up further.
IC Insider projects $1.70 per share earnings for 2014, which means that there is still room for growth, but the potential for price appreciation lags the majority of stocks in the market currently and, therefore, it no longer deserves a Buy Rating accolade. Access Financial has gained 36 percent since being tagged as Buy Rated on the 15th of July. Access also paid a dividend of 31 cents per share on August 15, bringing the total gross gains to 40 percent.
Elsewhere, the list remains as it was although the prices of some of the selections have moved up in the last week. There are strong signs that the prices of many of the selections, particularly those in Jamaica, will move up prior to the year end. This week, the Jamaica stock market closed with 12 stocks having bids above their last selling prices.
Lasco Manufacturing remains on the list not because of 2014 earnings which are unlikely to be very price positive, but based on the implications for revenues and profit with the start-up of operations of the new and expanded factory. This should be positive for the 2015 fiscal year ending in March.
Related posts | Access growth continues | LASCO manufactures more profits
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