Lasco Manufacturing hits IC TOP10

Lasco Manufacturing returns to IC TOP10 best performing stock in the past week, replacing Honey Bun closing at $6 in a week that the Junior Market climbed to a new eleven month high and posted a five percent gain for the year to date.

While the Junior Market had a new addition, the Main Market TOP10 continued with the same stocks as the week before but Grace Kennedy price rose from $68 to $73.45 with the stock moving from 5th spot to 7th.
The 2021 winner to date, Jamaican Teas lost a cent this past week after trading at a record high of $3.04 and moved down to the ninth spot this week with the price closing at $2.88 on Friday. Caribbean Cream price closed at $4.50 down from $4.95 at the end of the previous week to sit at 7th spot now. Lumber Depot one of the better Junior Market movers held at $1.95 after hitting $2.12 during the week to remain at eight position.
The Junior Market is up 4.9 percent for 2021 and is currently powered by a bullish golden cross, setting to take the market beyond 3,000 points. The release of company results in the next two weeks will play a big role in the next few weeks that will add fuel to the current rally. In this regard, based on 2020 release of results, interim financials are expected this week, from Access Financial, Barita Investments, Iron Rock Insurance, NCB Financial, the Lasco group of companies and Jamaican Teas.
The Main Market continues to slip in January, but technical indicator points to it heading towards the 460,000 points level on the All Jamaica Composite Index, in months.
The current TOP 10 report is based on earnings for 2020/21 as there are substantial gains ahead, for many stocks in the listings.
The top three stocks in the Junior Market with the potential to gain between 196 to 381 percent are Caribbean Producers followed by Elite Diagnostic and Lasco Financial. With expected gains of 135 to 315 percent, the top three Main Market stocks are, Berger Paints followed by Scotia Group and Carreras.
The local stock market’s targeted average PE ratio is 20 based on profits of companies reporting full year’s results, from now to the second quarter in 2021. The Junior and Main markets are currently trading well below the market average, indicating strong gains ahead. The JSE Main Market ended the week, with an overall PE of 18.9 and the Junior Market 14.8, based on ICInsider.com’s projected 2020-21 earnings. The PE ratio for the Junior Market Top 10 stocks average a mere 7.8 at just 53 percent of the market average. The Main Market TOP 10 stocks trade at a PE of 9.1 or 48 percent of the PE of that market.
The average projected gain for the Junior Market IC TOP 10 stocks is 181 percent and 132 percent for the JSE Main Market, based on 2020-21 earnings. IC TOP10 stocks are likely to deliver the best returns up to March 2021 and ranked in order of potential gains, based on likely gain for each company, taking into account the earnings and PE ratios for the current fiscal year. Expected values will change as stock prices fluctuate and result in movements in and out of the lists weekly. 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.

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