The markets were active this past week with the Junior Market closing at record highs on Thursday and Friday while the main market rose 2,750 points for the week, with former ICTOP10 listed Caribbean Producers hitting a record high of $20 at the close on Friday, up 19 percent from $16.74 last week and a stunning 614 since the start of 2021 as three TOP10 Main Market stocks enjoyed decent gains.
Access Financial fell from the Junior Market ICTOP10, with results for the nine months to December indicating that earnings for the full year will be in the $2 region rather than $2.60 that ICInsider.com previously projected, but it remains high on the 2022 TOP10. Elite Diagnostic traded at a 52 weeks’ high of $4.40 on Friday and ended at $3.73 with a gain of 7 percent in exiting the TOP10. 
Lumber Depot rose 10 percent to $3.20 and dropped out of the top listing. AMG Packaging rose 18 percent to end at $3.59, while Caribbean Assurance Brokers and Stationery & Office Supplies both gained 3 percent to remain in the TOP10. There are no new listings for the TOP10 Main Market for the week.
Guardian Holdings climbed 6 percent to close at $550, JMMB Group rose 8 percent to $40.99 and Sygnus Credit Investments jumped 10 percent to $15.84.
The sharp price movements in the Junior Market over the recent past weeks reduced the potential gains markedly, with the average increase projected for the TOP 10 Junior Market stocks now at 114 percent versus 119 percent last week and is now lower than the Main Market.
The top three stocks are Lasco Distributors followed by Caribbean Assurance Brokers and Lasco Financial to gain between 128 and 148 percent, compared to 131 and 150 percent, previously.
The potential gains for Main Market stocks moved from 139 percent to this weeks’ 131 percent, with the top three stocks being JMMB Group followed by Guardian Holdings and Sygnus Credit Investments all projected to gain between 155 and 193 percent from 151 and 254 percent last week.
After trading at a big discount to the Main Market for two years, the average PE for both the JSE primary markets has merged at 16.5 times 2021 earnings.
The Junior Market closed the week, with an average PE of 16.5 based on ICInsider.com’s 2021-22 earnings and is currently below the target of 20 and now very close to the average of 17 that was achieved at the end of March last year based on 2020 earnings. 
The TOP 10 stocks trade at a PE of a mere 9.4, with a 43 percent discount to that market’s average.
The Junior Market can gain 21 percent to March this year, based on an average PE of 20 that would take the index to 4,400 points. Twelve stocks representing 29 percent of all Junior Market stocks with positive earnings are trading at or above this level, averaging 25.
The average PE for the JSE Main Market is 16.5 just 15 percent less than the PE of 19 at the end of March and 21 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.8 representing a 47 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
IC TOP10 stocks are likely to deliver the best returns up to March 2022 and ranked in order of potential gains, based on the possible increase for each company, considering the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in weekly movements in and out of the lists. Revisions to earnings per share are ongoing, based on receipt of new information.
Persons who compiled this report may have an interest in securities commented on in this report.
The week ended with the supplies for some stocks becoming very limited, this applies to 
The potential gains for Main Market stocks moved from 144 percent to this weeks’ 139 percent this week, with the top three stocks being Guardian Holdings followed by
The Junior Market can gain 25 percent to March this year, based on an average PE of 20 and 6 percent based on an average PE of 17. Twelve stocks representing 29 percent of all Junior Market stocks with positive earnings are trading at or above this level averaging 25.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
Other stocks that were in the spotlight this past week were ones that lasted off to record new all-time highs and include
Junior Market, 
The top three stocks are 
The TOP 10 stocks trade at a PE of a mere 9.1, with a 38 percent discount to that market’s average.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
Elsewhere, investors in the Spur Tree Spices Initial Public offer will receive just over 11.76 percent of the shares they applied for in the heavily oversubscribed issue that is sure to drive the stock price with a big bang in the first week of trading which should be ahead of the end of January.
The average gains projected for the TOP 10 Junior Market stocks is 148 percent and Main Market stocks moved from 152 percent to this weeks’ 146 percent.
The average PE for the JSE Main Market is 16.4, just 16 percent less than the PE of 19 at the end of March and 22 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8.4 representing a 49 percent discount to the market and well below the potential of 20. A total of 14 stocks or 30 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
reports
Medical Disposables rose 7 percent for the week to $6.49 and dropped out of the TOP10 and was replaced by General Accident that comes in at $6. In the Main Market TOP10, Sagicor Group rose 9 percent for the week to close at $58 and was replaced by Scotia Group at $36.
The top three Main Market stocks, this week are Guardian Holdings followed by JMMB Group and Radio Jamaica all projected to gain between 199 and 258 percent up from 183 and 261 percent last week.
The TOP 10 stocks trade at a PE of a mere 8.2, with a 45 percent discount to that market’s average.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
The big news for the market for the past week was the release of the prospectus of the long-awaited Initial Public offer of 
The public offer for Spur Tree Spices shares opens on Wednesday this week and should be heavily oversubscribed, with closure likely by the end of the week.
The average gains projected for the TOP 10 Junior Market stocks moved from 149 percent last week to 151 percent and Main Market stocks moved from 155 percent to this weeks’ 154 percent.
Eleven stocks representing 26 percent of all Junior Market stocks with positive earnings are trading at or above this level, similar to last week, indicating that many others will rise towards the 17 mark in the months ahead.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
In the Main Market, other than Caribbean Producers, Sygnus and Pan Jam Investment fell 4 percent.
The Junior Market closed the week, with an average PE of 14.3 based on ICInsider.com’s 2021-22 earnings and is currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 42 percent discount to that market’s average.
ICTOP10 focuses on likely yearly winners, accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
Notable TOP10 movers this week are; AMG Packaging rose 9 percent in closing at $2.07 from $1.90 at the previous week’s close and Lumber Depot rose 18 percent to $3.25. Medical Disposables lost 5 percent of its value to close the week at $6 and Caribbean Assurance Brokers dived 13 percent to $2.60.
The average gains projected for the TOP 10 Junior Market stocks moved from 142 percent last week to 150 percent and Main Market stocks moved from 157 percent to this weeks’ 159 percent.
The average PE for the JSE Main Market is 15.8, which is 20 percent less than the PE of 19 at the end of March and 27 percent below the target of 20 to March 2022. The Main Market TOP 10 average PE is 8, representing a 51 percent discount to the market and well below the potential of 20. A total of 17 stocks or 36 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.
The other notable large TOP10 movers this week are; 
The top three Main Market stocks are Guardian Holdings, Caribbean Producers and JMMB Group, projected to gain between 213 to 253 percent expected versus last weeks’ 214 to 254 percent.
The Junior Market closed the week with an average PE of 14.3 based on ICInsider.com’s 2021-22 earnings and currently well below the target of 20 and the average of 17 at the end of March this year based on 2020 earnings. The TOP 10 stocks trade at a PE of a mere 8.1, with a 43 percent discount to that market’s average PE.
The Main Market TOP 10 average PE is 8.1, representing a 51 percent discount to the market and well below the potential of 20. A total of 17 stocks or 36 percent of the market trade at or above a PE of 19, with most over 20, for an average roundabout 25, suggesting that the accepted multiple is between 20 and 25 times the current year’s earnings.
Big TOP10 movers for the week are AMG Packaging lost 6 percent in closing at $2.25 from $2.40 last week, Caribbean Cream fell 4 percent to $5.60, Elite Diagnostic dropped 8 percent to $3.20, Caribbean Assurance Brokers rose 6 percent to $2.47 and Dolphin Cove rose 3 percent to land at $12.90 after it a 52 weeks’ high of $14 on Thursday, new coronavirus making the news seemed to have induced selling on Friday. In the Main Market, Caribbean Producers jumped 15 percent to close at $10, up from $8.61 and Radio Jamaica gained 8 percent to $3.30.
The top three stocks in the Junior Market are AMG Packaging, followed by Caribbean Assurance Brokers and Access Financial Services. All three can gain between 150 and 211 percent, down from 154 percent and 207 percent previously.
The Junior Market can gain 38 percent to March next year, based on an average PE of 20 and 17 percent based on an average PE of 17. Ten stocks representing 25 percent of all Junior Market stocks with positive earnings are trading at or above this level, down from seven last week, indicating that many others will rise towards the 17 mark in the weeks ahead.
ICTOP10 focuses on likely yearly winners; accordingly, the list may or may not include the best companies in the market. ICInsider.com ranks stocks based on projected earnings to highlight winners from the rest, allowing investors to focus on potential winning stocks and helping to remove emotional attachments to stocks that often result in costly mistakes.