Broker picks AIICO, NASCON, MTN, Dangote Cement as top Nigeria stocks
Broker consensus from firms including Blue Marina, Arthur Steven, Meristem and Cowry has issued Buy ratings on several Nigerian stocks, highlighting AIICO Insurance, NASCON, MTN Nigeria, Dangote Cement and NEM Insurance as top non‑bank picks. AIICO targets N5.64‑N5.80 (average ~N5.70) for about 44% upside; NASCON targets N263.19‑N333.60 (average ~N294.50) for ~43% upside; MTN Nigeria targets N978‑N1,209 (average ~N1,068.77) for ~35% upside; Dangote Cement targets N1,188‑N1,407.02 (average ~N1,299.44) for ~31% upside; NEM Insurance targets N36.97‑N46.15 (average ~N42.61) for the highest upside of ~58%. Outside banking, these five stocks show the strongest consensus based on number of Buy ratings, price‑target consistency and projected upside. The note also mentions Guaranty Trust Holding Company (GTCO) as a banking pick, citing Meristem’s 22.66% return on equity and 5.38 price‑to‑earnings ratio, with Blue Marina projecting an 11.8% dividend yield that lifts total return to about 48.3%. These figures give investors concrete price levels and upside expectations to consider when allocating capital. Given these upside estimates, which of these stocks aligns best with your risk tolerance and investment horizon?