The equities market value of Zenith Bank Plc on the Nigerian Exchange (NGX) edged higher to N1.510 trillion as the financial services stock continues to attract investors’ attention ahead of the fourth quarter earnings release.
The bank share price rose to N48.1 ahead of its earnings, racing near its 52-week high on the Nigerian Exchange. The banking giant’s share price had surged to N50 recently, its best in the last 12 months.
Market analysts anticipated Zenith Bank earnings to remain strong in 2024 after a strong performance show in the third quarter of 2024.
ZENITHBANK delivered impressive top- and bottom-line growth in the period, propelled by increases across the bank’s funded and non-funded income lines. Over the rest of the year, analysts at Cordros Capital Limited upgraded their target price by 14.8% to N60.06/s and maintained a “BUY” rating.
Market analysts rated Zenith Bank as one of the financial institutions to watch for in 2025 with a positive outlook before and after the recapitalisation exercise.