Investors in the twin island state of Trinidad and Tobago got a bit less bearish this week with the All Trinidad Index closing 0.5 percent higher and the Composite index rising 1.8 percent, with prices of 11 stocks rising and 6 declining, compared with 9 each declining and rising last week.
The average PE ratio of the market rose to 8, compared to 5.34 based on the current year’s earnings. The difference between the two graphically illustrates the market’s current undervalued level and by extension the upside potential ahead.
Winning stocks of note for the week are, Agostini’s with a gain of $1 to close at $65, First Citizens Bank rising $1.60 to close at $42, Republic Holdings ended with a rise of $1.96 to $114.95, CIBC Caribbean Bank up 85 cents to close at $8.75 and Endeavour Holdings climbing $1 to $18, Guardian Holdings rose 65 cents to $14.40 and Unilever Caribbean is up 20 cents to $11.40.
Falling stocks of notes are, Ansa Merchant Bank down 50 cents to $39.50, Ansa McAl with a drop of $4.10 to $62.90 and Trinidad Cement falling 21 cents to $2.10.
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 180 percent, the highly undervalued Guardian Holdings, a stock, with a 450 percent potential, Republic Holdings at 120 percent, Massy Holdings at 100 percent, Trinidad Cement with 400 percent, Eric Solis with a 400 percent and One Caribbean Media with 300 percent.
Investors should keep an eye on Prestige Holdings with the potential to gain 80 percent and Trinidad and Tobago NGL with a potential gain of 240 percent.