The Trinidad and Tobago Stock Exchange gained at the end of the week with the All Trinidad Index closing up 1.6 percent this past week and the Composite index rising 2.6 percent, with bank stocks leading the way followed by some other sector stocks.
The price of former FCIB now rebranded CIBC Caribbean hit a 52 weeks’ high on Friday.
The market closed with prices of 10 stocks falling and 9 rising, with some investors pouncing on some of the severely undervalued stocks.
The average PE ratio of the market is.8.3 the same as at the close of last week compared to 5.25 based on the current year’s earnings. The difference between the two graphically illustrates the level of undervalued of the market currently and by extension the upside potential ahead.
The winning stocks of note for the week are Republic Holdings with a rise of $2 to $117, CIBC Caribbean Bank gaining 94 cents to close at a 52 weeks’ high of $8, Prestige Holdings that climbed 49 cents to close at a 52 weeks’ high of $11.50, and Ansa McAl up 30 cents to $50.80.
First Citizens Bank gave back the 59 cents gained last week and ended at to $40.41, Unilever Caribbean fell 50 cents to end at $10.50, Scotiabank declined by 45 cents to $57.10 and Calypso Micro Index Fund gave up 33 cents in closing at $23.67.
Stocks that could gain more than 100 percent when the market comes back to life, include, CIBC Caribbean Bank with a possible gain now down to 200 percent, following the gains this past week, but the high level of potential supply may stifle this stock from achieving full potential, Guardian Holdings, a hugely undervalued stock, with a 500 percent potential, Republic Holdings at 115 percent, Massy Holdings at 100 percent, Trinidad Cement with 300 percent, Eric Solis 400 percent and One Caribbean Media with 300 percent.
Investors should also take note of Prestige Holdings with the potential to gain over 70 percent.