Access Holdings Plc saw a slight dip in the equity market last week as fading bargain hunting and a delay in its first-half 2025 earnings release weighed on investor sentiment. The financial services giant postponed its results on the Nigerian Exchange (NGX), noting that the figures had been transmitted to the Central Bank of Nigeria (CBN) for final approval.
At market close, Access Holdings’ 53.317 billion outstanding shares were valued at ₦1.412 trillion, reflecting a decline of ₦26.658 billion from the previous week. Despite this, the group has delivered a 13.21% year-to-date (YTD) return, though this ranks as the lowest among Nigeria’s Tier-1 banks.
Analysts noted that mixed investor sentiment has led to increased sell-offs, with traders exploiting the earnings delay to offload banking stocks, hoping to re-enter at cheaper levels. Banking equities, in particular, remain under pressure amid a broader bearish trend on the NGX, where bargain-hunting opportunities have thinned in the absence of new growth catalysts.
“The last hope for big banks to make meaningful returns for shareholders would be the strength of their half-year earnings performance,”
Market watchers are especially cautious following First Holdco Plc’s earnings slump, which rattled confidence on Broadstreet. As a result, investors are positioning carefully ahead of Access Holdings’ financial scorecard, which many expect to act as a key trigger for the stock’s next price re-rating.
By the end of last week’s trading session, Access Holdings’ share price settled at ₦26.50, with 26.854 million units worth ₦716.98 million exchanged. The large volumes were largely driven by profit-taking from sell-side traders preparing for the delayed earnings release.
The group’s share price movement was relatively stable compared to the broader NGX downturn, with only a mild contribution to the overall banking index loss. Similar cautious trading patterns were observed in Zenith Bank and GTCO stocks, while UBA emerged as a lone gainer and First Holdco remained flat.
Analysts’ Expectations and Price Targets
Equity analysts remain divided on Access Holdings’ outlook, though most maintain a cautiously optimistic stance:
- Afrinvest Securities Limited holds the most bullish view, setting a target price of ₦48.61, suggesting strong upside potential.
- Apel Asset Limited and Cowry Asset Limited both pegged their price target at ₦36, implying a potential gain of 33.6% from a reference price of ₦27.
- Alpha Morgan Capital Limited issued a buy rating with a ₦33.20 target, citing solid fundamentals.
- Atlass Portfolio Limited gave a more conservative ₦30.50 target, attaching a hold/neutral recommendation due to the limited upside of 12.95%.
With earnings delays clouding sentiment, analysts agree that Access Holdings’ half-year results will be the decisive factor in shaping its near-term stock trajectory.
