Stocks gained by 3 percent in value on the Jamaica Stock Exchange at the close of the week with the the All Jamaica Composite Index rising over 10,417 points and the Junior Market rising by 106 points as 6 stocks in the Junior Market TOP10 rose with 4 falling by 7 percent or less while in the Main Market TOP10 only three stocks gained by 5 percent or less while 4 declined by 11 percent and less.
Guardian Holdings continues to hold on to the number one buy position by a wide margin, in all markets as well as the All JSE TOP10. Caribbean Cream holds the number one spot in the Junior Market followed by Elite Diagnostic, last weeks’ number three holder. 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.
In the Junior Market ICTOP10, Caribbean Assurance Brokers rose 17 percent to close at a $3.57, as it continues to bob and weave between the low and high $3 range, followed by Lasco Financial with a 16 percent gain to $1.85 and Caribbean Cream added 9 percent to close the week at $3.44, with supply overhang at $3.45 holding it back along with minimal buying interest currently. tTech and One great Studio fell 7 percent to $2.14 and 65 cents respectively.
In the Main Market ICTOP10, JMMB Group popped 5 percent to $23.91. Key Insurance suffered an 11 percent drop, to close at $2.24 and Pulse Investments lost 8 percent to end at $1.60.
Lasco Financial fell out of the Junior Market IC TOP10 and is replaced by Iron Rock Insurance that returns after a one week absence. There were no changes to JSE Main Market ICTOP 10.
The average PE for the JSE Main Market ICTOP 10 stands at 5.2, well below the market average of 14.5 and the Junior Market TOP10 sits at 6.8, just more than half of the market, with an average of 12.3
The Main Market ICTOP10 is projected to gain an average of 297 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve 207 percent over the same period.
In the Main Market ICTOP 10, a total of 17 of the most highly valued stocks representing 33 percent of the Main Market have PEs between 15 to 108, with an average of 29 and 21 excluding the highest PE ratios, and a PE of 24 for the top half of the market with the highest values and 18 excluding the stocks with overweight values.
In the Junior Market IC TOP10 are 13 stocks, 27 percent of the market, with PEs ranging from 15 to 25 with an average of PE of 17 and a PE of 16 for half of the market with the highest PEs.
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.