Stocks delivered a better performance on the Trinidad and Tobago Stock Exchange this week, with the two primary market indices rising moderately resulting in the All Trinidad Index closing 0.3 percent higher and the Composite index 0.2 percent with prices of 9 stocks rising and 7 declining compared with just 3 rising and 11 declining the previous week.
The average PE ratio of the market, closed higher at 8.03 up from 7.62, last week based on 2023 earnings compared to 5.51 based on 2024 projected earnings, with the difference being graphically illustrating the market’s current undervalued level and by extension the upside potential ahead.
In a week when price movements were mostly moderate, Ansa McAl jumped $1.23 to $61, Agostini’s rose $1.10 to close at $67.90, First Citizens Bank rose 26 cents in closing at $41.76. Prestige Holdings lost 30 cents to close at $11.
Stocks with the potential to gain more than 100 percent when the market comes back to life, include CIBC Caribbean Bank with a possible gain of 200 percent, the severely undervalued Guardian Holdings, with a 430 percent potential, Republic Holdings at 160 percent, First Citizens Bank 100 percent, Massy Holdings 50 percent, Trinidad Cement with 300 percent. Eric Solis with a 90 percent potential gain and One Caribbean Media with 300 percent.
Investors should watch Prestige Holdings with the potential to gain 85 percent and Trinidad and Tobago NGL with a potential gain of 230 percent.