BUY RATED stocks set for more big gains

Scotia Investments was added to BUY RATED stocks

In December last year, Scotia Investments was added to the BUY RATED list and in January this year, Main Event, the latest company that offered shares to the public, in a recent initial public offer, was added to the list.
Main Event is slated to list on the junior market next Wednesday. The strong fourth quarter results for Scotia Investments, and the attractive price, along with good potential growth for Main Event, made them compelling candidates to be placed on the list. The latter was heavily oversubscribed, and the listing opening in a very bullish market, is bound to result in a big increase for the stock price, within days of listing. IC lifted the watch from a few of the stocks, based on what is expected of profits in 2017, that will make them attractive buys.
Many of the big winners are expected to grow as profit increases and the Jamaica Stock Exchange PE ratio increases, to better reflect valuations, with the low level of interest rates now in the system. With a number of stocks priced at PE in excess of 20, it is not far fetched to see many others joining this level, which would mean a continuation of the recent bull run on stocks.
The list shows that many of the listings in Jamaica, have done well, with some doing very well. While many are not likely to deliver outside returns, a few on the list, could do exceeding well. Listed among these are, Access Financial, ISP Finance, Lasco Manufacturing, Main Event and tTech from the Junior market and from the main market Barita Investments will be hard to catch while Caribbean Cement, JMMB Group and National Commercial Bank should be delivering gains of 100 percent or close to that level for 2017.
The Trinidad stocks seem mired in recent environment and but for a few cases are best left out of the reckoning for the time being.

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