Main Event & Stanley Motta in IC TOP 10

Main Event returns to IC TOP 10.

Main Event fell to $5.50 on Friday and climbed back into the Junior market IC TOP 10 stock listing, while Recently listed Stanley Motta climbed on board the main market list.
Moving on out of the top 10 are JMMB Group with a rise in the bid price to $32.70 and Caribbean Cream that closed the week at $7.90, from $6.50 last week. Both are worth watching for more gains in the coming week. Barita Investments and Berger Paints long time TOP 10 listees, moved up in price during the week but still remain in the list but could be out by the end of the coming week if current demand continues.
During the past week, the main market of the Jamaica Stock Exchange, racked up more record closes but pulled back on sharply on Thursday and Junior market hit new highs during the week but dropped sharply on Friday due mainly to Lasco Distributors falling to $3.35 and Express Catering dropping to $6.40 before rebounding at the close.
Gains in the two markets are driving the PE ratio of the market higher with the overall PE for the Junior Market rising to 14 and the main market to 14.5 as the valuation multiple grows with historically low interest rates and high liquidity abounding.
The PE ratio for Junior Market Top 10 stocks average 9.3 up from 8.9 last week, as the market continues to revalue the multiple higher and the main market PE is now 9.1, up from 8.8 last week, for the top stocks.
The TOP 10 stocks now trade at an average discount of 35 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings. The main market stocks trade at a discount of 38 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.

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