The Jamaica Stock Exchange, All Jamaica Composite Index fell in the past week, the decline could not erase the big bounce the market enjoyed at the end of the prior week. The Junior Market Index slipped, but it still held on to a fraction of the 63 points it gained in the previous week, resulting in the TOP 10 lists ending with lots of price movements during the week.
Four stocks gained and five fell in the Junior Market TOP10 and the Main Market TOP10 had only one stock gaining and 8 declined.
As was the case in the previous week, Guardian Holdings hold the number one position in all markets and All JSE TOP10 compiled from all listed ordinary stocks on the JSE, with Pulse Investments in the number 2 spot for the Main Market and is not far away from the number one spot. This closeness may be due to uncertainty with the company’s perceived leadership. This list is more exacting than the Junior and Main Market TOP10, with 20 stocks. For a third week, Elite Diagnostics holds the number one spot in the Junior Market followed by AMG Packaging.
In the Junior Market ICTOP10, Elite Diagnostic rose 11 percent to $2.05 and Lumber Depot popped 4 percent higher to $2.70. Access Financial shed 12 percent to close at $17.50, AMG Packaging and Jamaican Teas shed 4 percent to close at $2.76 and $2.13 respectively.
In Main Market ICTOP10 activity, Pulse Investments inched 3 percent higher to $1.19. Key Insurance fell 15 percent to $2.07, followed by JMMB Group and Margaritaville down 4 percent to $21.60 and $14.50 respectively.
The average PE for the JSE Main Market ICTOP 10 stands at 4.8, well below the market average of 14.4 and the Junior Market TOP10 sits at 7.6, more than half the market, with an average of 12.9.
The Main Market ICTOP10 is projected to gain an average of 325 percent by May 2025, based on 2024 forecasted earnings and provide better values than the Junior Market with the potential to achieve a 175 percent gain 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 28 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 11 stocks, 23 percent of the market, with PEs ranging from 15 to 29 with an average of 21 and a PE of 17 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.