Eight stocks lead brokers’ October consensus Buy list

8 stocks have actually become brokers’ leading choices for October, with Nigerian Breweries getting the greatest assistance amongst the 6 financial investment companies examined by Nairametrics.

The maker protected 5 Buy or Upside suggestions, while Access Holdings, ETI, GTCO, BUA Cement, MTN Nigeria, Dangote Sugar and Aradel got 4 favorable rankings each.

This represents a much shorter agreement list than in late September, when 14 stocks drew in a minimum of 4 favorable suggestions.

UBA, FCMB, Zenith Bank, NASCON, and AIICO were amongst the stocks that stopped working to keep their earlier positions.

All 8 stocks still have rates listed below the levels brokers think they might reach. Some now appear more appealing than they did in late September since their share rates have actually fallen.

• Aradel tape-recorded the most significant modification. Its share rate dropped from N1,550 to N1,377, producing more space for gains if it reaches the brokers’ typical target. The anticipated return subsequently increased from 67.1% to 85.7%.
• The exact same occurred with MTN Nigeria. Its share cost fell from N890 to N840, raising the possible return from 39.8% to 44.6%. Nigerian Breweries and Dangote Sugar likewise used a little more space for gains than they carried out in September.

ETI, Access Holdings and GTCO still used gains based upon the brokers’ targets, however a little less than in the previous evaluation. BUA Cement’s anticipated return stayed the same.

The evaluation covers suggestions released on October 12 and 13 by Cowry Asset Management, Morgan Capital Securities, Blue Marina Research, Arthur Steven Asset Management, First Securities Brokers and Futureview Financial Services.

Just stocks ranked Buy or Upside were counted as favorable suggestions.

Nigerian Breweries continues

Nigerian Breweries got favorable suggestions from 5 companies; the greatest number tape-recorded by any stock in the October evaluation.

• The brokers’ targets varied from N88.94 to N107.61. Their typical target of N97.51 recommends a possible gain of 30.7% from the October 9 cost of N74.60.

The suggestions show self-confidence in the maker’s healing, consisting of enhanced rates and revenue margins.

• Nigerian Breweries moved from a built up loss of N72.17 bn at the end of 2025 to favorable kept revenues of N13.65 billion by June 2026.
• It likewise repaid its staying N59.71 bn in bank loanings, leaving the business without any impressive loans and N74.63 bn in money. Money produced from operations increased greatly from N10.50 bn to N126.98 bn.

Weak customer costs, greater production expenses and foreign-exchange pressures stay essential threats.

Banks keep strong representation

Gain Access To Holdings, ETI and GTCO each got 4 favorable suggestions.

• Gain access to Holdings had a typical target of N42.91, suggesting a prospective gain of 45.5% from N29.50.
• ETI tape-recorded the greatest anticipated return, with a typical target of N153.59 compared to its N67 market value. This indicates an advantage of 129.2%, although the figure was raised substantially by Arthur Steven’s much greater target of N299.29.
• GTCO’s typical target of N159.95 represents a possible benefit of 21.6% from N131.50. Unlike the 4 companies advising the stock, Arthur Steven ranked GTCO Sell and positioned its target at N79.32.

UBA and FCMB, which had 4 favorable suggestions in September, got 3 each in the current evaluation. This does not always imply every missing out on broker devalued them, as some companies launched much shorter suggestion lists in October.

BUA Cement, MTN and Aradel keep assistance

BUA Cement maintained 4 favorable suggestions and a typical target of N391.50. This represents a possible gratitude of 31.8% from N297. Arthur Steven, nevertheless, ranked the stock Hold.

• MTN Nigeria likewise got 4 favorable rankings. Its typical target of N1,214.83 indicates a possible advantage of 44.6% from N840.
• Aradel’s 4 favorable targets produced approximately N2,557.09, compared to its market value of N1,377. This suggests possible gratitude of 85.7%, the 2nd greatest on the list.

The targets for MTN and Aradel differed commonly, revealing that brokers normally anticipate their costs to increase however disagree on how far they might go.

Dangote Sugar remains amongst leading choices

Dangote Sugar got favorable suggestions from Blue Marina, Arthur Steven, First Securities, and Futureview.

• Their targets varied from N87.88 to N102, producing approximately N95.21. This represents a possible gratitude of 36% from N70.

Compared to ETI, MTN and Aradel, the brokers were more carefully lined up with Dangote Sugar’s worth.

Zenith, NASCON and AIICO lose assistance

Zenith Bank tape-recorded among the most significant modifications from the late-September evaluation, as its favorable suggestions fell from 4 to 2.

• Cowry and First Securities stay favorable. Securities positions Zenith’s reasonable worth at N149.37, representing a possible rate gain of 10.9% from N134.70. When its anticipated dividend is consisted of, the broker approximates an overall return of 25.4%.
• Futureview’s position altered primarily due to the fact that Zenith’s share rate increased. Its target stayed the same at N147.88, however the stock increased from N128.40 in September to N134.70 in October. This decreased the possible gain from 15.2% to 9.8%, triggering Futureview to alter its suggestion from Buy to Hold.
• Arthur Steven takes a more unfavorable position, ranking Zenith Sell with a target of N102, which has to do with 24% listed below the October referral rate. Blue Marina, on the other hand, moved the stock from Buy to Under Review and withdrew its previous N157.20 target. This indicates its modification can not be associated exclusively to the share cost boost.
• NASCON’s loss of assistance was more plainly driven by its increasing share cost. The stock increased by 18.1%, from N160 in September to N188.90 in October, while First Securities maintained its N212.11 reasonable worth. As an outcome, the possible rate gain narrowed from 32.6% to 12.3%, leading the broker to move NASCON from Upside to Neutral.
• Blue Marina and Futureview stay favorable on NASCON, with particular targets of N286.71 and N235.50. Their suggestions reveal that brokers still disagree over just how much even more the stock can increase.
• AIICO followed a comparable pattern. Its cost increased from N3.77 to N4.14, while Blue Marina’s target stayed the same at N4.86. This lowered the anticipated rate gain from 28.9% to 17.4%, triggering the broker to move the stock from Buy to Hold.

Futureview stays favorable on AIICO with a target of N5.10, while Arthur Steven advises Buy with a greater target of N6.62.

What financiers must remove

Nigerian Breweries provides the greatest case, integrating broad broker assistance with enhancing capital, lower financial obligation and a go back to favorable maintained profits.

• Gain Access To Holdings, BUA Cement and Dangote Sugar have actually more carefully lined up targets, while the large target varieties for ETI, MTN Nigeria and Aradel need higher care.

Financiers need to likewise take notice of entry rates. The modifications in Zenith Bank, NASCON, and AIICO reveal that an excellent stock can lose its Buy ranking after its cost increases and decreases the chance for more gains.

Broker suggestions need to for that reason be thought about along with revenues, capital, financial obligation, and appraisal.