Jamaica Broilers announced a new acquisition last week
The Jamaica stock market was impacted last week by fresh share insurances and acquisitions by two IC TOP 10 listed companies.
Investors’ attention was on pumping funds into Barita Investments’ rights issue and QWI Investments’ initial public offering in the past week and led to more muted market activity, with the latter attracting more than 4,000 investors and in excess of $1.5 billion.
Other major developments in the past week were the announcement that TOP 10 BUY RATED General Accident picked up 55 percent of the Trinidad based Motor One Insurance company but investors hardly seem to notice. Another Top 10 listing, Jamaica Broilers announced yet another takeover of a poultry processing plant in the USA. Market activity in the coming week will be further affected with 
Proven Investments selling half of their holdings in Access Financial stock by way of a public offer, at an attractive price of $32 each. Market conditions resulted in just two changes to IC TOP 10 BUY RATED list as CAC 2000 returned to the top 10 Junior Market list, replacing Caribbean Cream and Scotia Group moved back into the main market listing at the expense of Seprod.
Changes in prices left Caribbean Producers with projected gains of 233 percent, followed Iron Rock by with likely gains of 201 percent and tTech with projected gains of 167 percent as the three most attractive Junior Market stocks.
Radio Jamaica closed the week with projected gains of 163 percent as the leading main market stock with the price falling to $1.90 by the end of the week. Berger Paints sits at the number two spot with projected gains of 121 percent as more interest comes in for this stock coupled with reduced selling ahead of the most important quarter coming up when sales exceed all other quarters and Carreras with projected gains of 112 percent.
The main market, closed the week with the overall PE of 16.7 down from 17.7 the previous week and the Junior Market is down to 11.3 from 11.6 based on current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 7.8 compared to 7.7 the previous week and the main market PE slips to 10.4. These levels of PE ratios point to big upside for TOP 10 stocks.
The TOP 10 stocks now trade at an average discount of 31 percent to the average for the Junior Market Top stocks and main market stocks trade at a discount of 38 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns to March next year. Projected earnings, along with the PE ratio for each company’s current fiscal year are used in determining potential gains. The likely gains are ranked in descending order, with the highest-ranked being the most attractive and moving down the least attractive. 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 as new information is received that can result in changes in and out of the list.
This report is compiled by persons who may have an interest in the securities commented on.
Prices pulled back during the past week but the new IC TOP 10 BUY RATED main market stocks MPC Caribbean Energy surged to an all-time high of $153.06 and is still in the TOP 10 and seems poised to move higher with no sellers in sight.
The PE ratio for Junior Market Top 10 stocks averages 7.7 compared to 8.4 the previous week and the main market PE is now 10.5. These levels of PE ratios point to big upside for TOP 10 stocks.
The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked 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 as new information is received that can result in changes in and out of the list.
IC TOP 10 BUY RATED main market stocks got a surprise entry as MPC Caribbean Energy surged into the top list for the first time to sit at fourth position at the expense of Seprod.
The three most attractive Junior Market stocks are Caribbean Producers with projected gains of 233 percent, followed by Iron Rock with likely gains of 200 percent and General Accident with projected gains of 188 percent.
The main market closed the week with the overall PE of 18.3 and the Junior Market remains at 12.1 current year’s earnings. The PE ratio for Junior Market Top 10 stocks averages 8.4 and the main market PE is now 10.2. These levels, point to big upside for TOP 10 stocks to the end of March next year and Junior Market stocks in particular as they lag, the values of the main market by a third.
The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked 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 as new information is received that can result in changes in and out of the list.
The PE ratio for Junior Market Top 10 stocks averages 8.4 and the main market PE is now 10.5. These levels, point to big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular as they lag, the values of the main market by a third.
The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked 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 as new information is received that can result in changes in and out of the list.
The PE ratio for Junior Market Top 10 stocks averages 8.1 and the main market PE is now 10 3. These levels, point to big upside for TOP 10 stocks over the next 12 months and Junior Market stocks in particular as they lag, the values of the main market by a third.
Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked 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 as new information is received that can result in changes in and out of the list.
The Jamaica Stock Exchange saw new record highs for the main and Junior Market, with attention moving decisively in favour of the latter that lagged the main market for the greater part of the year. 
Earnings for Sterling Investments were revised downwards to 23 cents per share, resulting in it leaving the TOP 10. New entrants are Grace Kennedy, Proven Investments and 
Fresh from its recent successful IPO, shares of 
In the past week, the main market continues to hit new record highs, closing the week at an all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered all of the 2019 losses and more and is less than 100 points away from the all-time high of 3,436 points in September last year. Technical indicators point to the record be taken out soon and could happen this week with more results due.
Sterling Investments heads the main market with potential gains of 156 percent followed by Sygnus Credit Investments with 137 percent and Berger Paints in third spot and likely to gain 132 percent by March next year. 
In the past week, the main market continues to hit new record highs, closing the week at a near all-time high on its way to over 700,000 points for the All Jamaica Index. Momentum continues to move the market away from long-term resistance at 520,000 points. The Junior Market rose during the week and recovered losses suffered in the first half of the month. The market is still consolidating, waiting for profit results to help move it higher as it is currently highly undervalued.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Projected earnings, for each company’s current fiscal year, are used in determining, the selected stocks. The PE for and projected earnings for each stock are computed to show potential gains for the year, which are ranked 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 as new information is received that can result in changes in and out of the list.