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Republic Bank acquisition to boost HFC stock price

Following the successful acquistion of majority stake in HFC Bank by the Republic Bank of Trinidad and Tobago, stock analysts have highly tipped the stock to perform well on the Ghana stock exchange in the week ending May 22.

As a result, GN Research, has ranked HFC Bank stock as the number one equity for investors to look out for in the week beginning May 18.

It also expects strong investor appetite in the shares of stocks such as  EBG, CAL, BOPP and MAC.

Below are the top five best equities of the week, according to the research arm of Groupe Ndoum.

HFC

Though having relatively low liquidity combined with a higher volatility in its price movements, the past weeks have seen the HFC stock shore up in capital gains. Trading at GH₵1.71, GN Research Analysts posits the stock will end the week at GH₵1.79, looking at its price appreciation and the momentum of price movement after the decision by Republic bank to buy back shares at GH₵1.95.

EBG

This equity was one of the three gainers for last week, confirming our forecast of upside potentials. We maintain it as the top pick due to the robustness of the stock coupled with increase in the liquidity. These factors combined to heighten the potential for further upticks and consistent upside movement in price since year the opening. We project a week-close price of GH₵8.15. 

CAL

The relatively liquid nature of this stock makes it preferable for investment in the short term. Currently trading at GH₵1.08 per share with average daily returns of 0.88 per cent since year open, there is potential for further growth in this stock as the bank recorded an impressive performance from their unaudited financials for 2014. Analysts anticipate a week close price of GH₵1.13.

BOPP

BOPP is essential for every investment portfolio in 2015, looking at its price appreciation and growth rate after adding 91 pesewas to its year open price to trade currently at GH₵5.01 on the exchange.

MAC

Recording a price appreciation of 45.2 per cent in 2014 and 22.2 per cent in the past weeks clearly gives an indication the stock is set for an upward trajectory, looking at its price movement in 2014. Analysts project a week close price of GH₵5.59. — GN Research/GB

 

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