Access Holdings Plc (ACCESSCORP) remains one of the most compelling investment opportunities on the Nigerian Exchange, with analysts projecting a 12-month target price of ₦48.61, representing a potential upside of more than 130% from its last traded price of ₦20.50.
Despite a strong rally across banking stocks over the past year, ACCESSCORP continues to trade at deeply discounted valuation levels, reinforcing the view that the sector’s re-rating is far from complete.
The stock is currently priced at a trailing price-to-earnings (P/E) ratio of about 1.4x and a price-to-book value (P/BV) of roughly 0.3x, levels that remain well below historical averages and comparable emerging-market peers.
Dividend Yield Adds Defensive Appeal
Beyond capital appreciation, Access Holdings offers investors an attractive income stream.
The company’s dividend yield of approximately 10% places it among the highest-yielding large-cap stocks on the exchange.
For yield-seeking investors navigating Nigeria’s volatile macroeconomic environment, this dividend profile provides a buffer against market swings while maintaining exposure to potential upside from earnings growth and balance-sheet expansion.
Why Banks Still Look Cheap
Analysts argue that Nigerian banks, including Access Holdings, remain undervalued despite strong recent performance due to lingering investor concerns around:
Macroeconomic uncertainty and inflationary pressures
Regulatory and policy risks
Asset-quality fears following currency reforms
However, these risks have increasingly been offset by strong FX revaluation gains, improved capital adequacy, and resilient core earnings.
In Access Holdings’ case, its diversified earnings base across commercial banking, payments, and international subsidiaries has helped cushion volatility and support profitability.
Market Performance and Outlook
Although ACCESSCORP has recorded a modest negative return in the most recent week, analysts view this as short-term price consolidation rather than a deterioration in fundamentals.
Year-to-date performance remains negative, reinforcing the argument that the stock still offers catch-up potential relative to peers.
Looking ahead, analysts expect:
Improved earnings visibility
Sustained dividend capacity
Gradual valuation re-rating as investor confidence returns
Investor Takeaway
For long-term investors, Access Holdings Plc combines deep value, income generation, and earnings momentum in a sector that remains central to Nigeria’s equity market recovery.
As banking stocks continue to anchor institutional portfolios, ACCESSCORP stands out as a name where valuation, yield, and upside converge, making it a core candidate for investors seeking exposure to Nigeria’s financial sector.