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9 top stocks to watch for upside potentials

As Nigeria’s equity market prepares to reopen for the new trading week, investors are casting a sharp focus on high-performing stocks with strong upward trajectories and impressive financial fundamentals.

The first half of 2025 has seen a dynamic reshaping of the equities landscape, with several stocks delivering outsized returns and catching the attention of institutional and retail investors alike. Here’s a curated list of radar-worthy stocks, driven by year-to-date momentum, robust earnings growth, and proximity to 52-week highs.

 

1. The Initiate Plc (TIP)

Current Price: N6.49

YTD Return: +159.60% (from N2.50)

52-Week Range: N1.70 – N7.38

Proximity to 52-Week High: ~12% below peak

Investor insight:

TIP has delivered a remarkable surge, driven by both earnings momentum and renewed investor confidence. The company’s FY 2024 and Q1 2025 financial results showcased significant growth in revenue and profit, validating its strong fundamentals. With the stock trading close to its 52-week high, further upside is possible if earnings momentum persists.

 

2. Beta Glass Plc

Current Price: N232.65

YTD Return: +258.47%, (from N64.90)

52-Week Range: N44.50 – N258.50

Proximity to 52-Week High: ~10% below peak

Investor insight:

Beta Glass remains a top performer in 2025. Supported by robust year-on-year growth in both top and bottom lines, the stock’s trajectory reflects strong operational performance. With only a modest gap to its 52-week high, the bullish trend could continue with consistent quarterly earnings.

 

3. Honeywell Flour Mills

Current Price: N20.50

YTD Return: +225.40% (from N6.30)

52-Week Range: N3.00 – N23.10

Proximity to 52-Week High: ~11.3% below peak

Investor insight:

Honeywell Flour has staged a dramatic turnaround, posting a 98.35% revenue growth to N373.51 billion and swinging from a N10.12 billion loss to a N14.78 billion profit after tax. Such financial transformation underscores strong operational efficiency and positions the stock for further gains.

 

4. Northern Nigerian Flour Mills (NNFM)

Current Price: N125.05

YTD Return: +184.85% (from N43.90)

52-Week Range: N31.35 – N138.90

Proximity to 52-Week High: ~10% below peak

Investor insight:

NNFM continues to ride on strong sectoral tailwinds. With a 14.36% rise in profit after tax to N1.75 billion, the fundamentals support continued investor interest. The stock remains within striking distance of its one-year high.

 

5. SCOA Nigeria Plc

Current Price: N5.39

YTD Return: +161.65% (from ₦2.06)

52-Week Range: N1.71 – N5.39

Proximity to 52-Week High: Trading at peak

Investor Insight:

Despite a Q1 2025 loss, SCOA’s full-year results for 2024 showed impressive growth in revenue and profit. Investors will be keenly watching for signs of recovery in subsequent quarters. Trading at its 52-week high, the stock reflects strong short-term optimism.

 

6. Vitafoam Nigeria Plc

Current Price: N60.00

YTD Return: +160.87% (from N23.00)

52-Week Range: N17.30 – N60.80

Proximity to 52-Week High: ~1.3% below peak

Investor insight:

Vitafoam’s half-year financials ending April 30, 2025, revealed solid growth, reaffirming its resilience in a volatile macro environment. Trading near its 52-week high, it remains a solid candidate for investors seeking both capital appreciation and earnings-driven momentum.

 

7. Champion Breweries Plc

Current Price: N7.70

YTD Return: +102.1% (from N3.81)

52-Week Range: N2.72 – N8.25

Proximity to 52-Week High: ~6.7% below peak

Investor insight:

A double-digit rally year-to-date and consistent financial performance keep Champion Breweries in the spotlight. Continued growth in its operating metrics bolsters confidence in further upside potential.

 

8. Chellarams Plc

Current Price: N9.53

YTD Return: +157.57% (from N3.70)

52-Week Range: N3.70 – N13.11

Proximity to 52-Week High: ~27% below peak

Investor Insight:

While Chellarams’ revenue has grown meaningfully, losses at the bottom line may temper investor enthusiasm in the short term. However, its strong price momentum and room to recover toward its 52-week high make it one to watch for speculative plays.

 

9. Fidson Healthcare Plc

Current Price: N31.80

YTD Return: +105.16% (from N15.50)

52-Week Range: N12.40 – N31.80

Proximity to 52-Week High: Trading at peak

Investor insight:

Fidson has emerged as a healthcare sector darling, fueled by consistently strong earnings and expansion strategy. With the stock at its 52-week high, investor confidence remains elevated, and any further financial surprises may propel the stock higher.

As trading resumes on June 10, 2025, all eyes will be on these high-momentum stocks. The combination of strong earnings, bullish technical setups, and investor sentiment offers compelling entry or continuation opportunities.

While some stocks are nearing resistance zones, continued financial outperformance could drive further gains. Investors are advised to monitor earnings updates, volume surges, and macroeconomic indicators that may influence short-term trends.

 

Source: MarketForces Africa

Note that this article is only for information purpose and not intended for investment advice. Contact your investment advisor/stockbroker for investment advice.

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