The markets were relatively stable during the week, the Jamaica Stock Exchange Main Market index posted losses of just 730 points, the All Jamaica Composite Index declined by 489 points and the Junior Market declined by 37 points or one percent, resulting in prices of 6 stocks falling in the Main Market TOP10 while the Junior Market TOP10 had a better week than the Main Market, with 5 stocks rising and 4 declining.
Guardian Holdings continues to hold on to the number one buy position in all markets and Elite Diagnostic the best in the Junior Market.
In the Junior Market ICTOP10, tTech recovered last week’s heavy loss by climbing 20 percent to $2,11, Caribbean Cream popped 9 percent to close the week at an enticing $3.45. Iron Rock Insurance rose 8 percent to $3.66 and AMG Packaging gained 4 percent to $2.85. One Great Studio and Lumber Depot fell by 4 percent to 70 cents and $2.78 respectively.
In the Main Market ICTOP10, Pulse Investments jumped 14 percent to $1.71and Berger Paints rose 5 percent to $8.44. Key Insurance dumped 27 percent of its value to end at $2.10, followed by General Accident dropping 13 percent to $5.75and VM Investments fell 5 percent to $2.60.
Image Plus fell out of the Junior Market IC TOP10 and was replaced by Express Catering. No stock moved in or out of the JSE Main Market ICTOP 10 this week.
Caribbean Cream dropped out of the All JSE TOP10 list but still remains in the Junior Market TOP10, following release of its six month results that showed a major improvement in profit over the similar period in 2023. The results fell below ICInsider.com projections, accordingly, the latest forecast is for 45 cents per share for the year.
The All JSE TOP10 is compiled from all ordinary stocks listed on the Jamaica Stock Exchange with the highest potential to gain, based on projected 2024 earnings. This list is more exact than the Junior and Main Market TOP10 lists.
The average PE for the JSE Main Market ICTOP 10 stands at 5, well below the market average of 14 and the Junior Market TOP10 sits at 6.5, just more than half of the market, with an average of 12.
The Main Market ICTOP10 is projected to gain an average of 307 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve 214 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 108, with an average of 28 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 11 stocks, 23 percent of the market, with PEs ranging from 15 to 23 and a PE of 15 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.