Nigerian Breweries Tops Brokers' October Stock Picks

Eight stocks have emerged as the leading picks for October, according to a review by six investment firms conducted on October 12 and 13. Nigerian Breweries received the strongest support, securing five Buy or Upside recommendations.

Other stocks, including Access Holdings, ETI, GTCO, BUA Cement, MTN Nigeria, Dangote Sugar, and Aradel, received four positive ratings each. This marks a reduction from September, where 14 stocks had at least four positive recommendations.

UBA, FCMB, Zenith Bank, NASCON, and AIICO did not maintain their previous positions. Despite the decline in recommendations, all eight stocks remain below the price levels brokers believe they could reach.

Brokers noted that Nigerian Breweries shows promise due to improved pricing and profit margins, although risks such as weak consumer spending and higher production costs persist. BUA Cement maintained a target price of N391.50, indicating a potential appreciation of 31.8% from its current price of N297.