Update shared on 04 Jan 2026
Analysts have nudged their price target on Zenith Bank slightly higher to reflect modest adjustments in the discount rate and future price-to-earnings assumptions, while maintaining broadly unchanged views on fair value and underlying growth and profitability.
What's in the News
- Board meeting scheduled for January 29, 2026, to review the Group's audited financial statements for the year ending December 31, 2025 (Key Developments)
- Directors to consider a proposal for recommendation of the full-year dividend to shareholders at the same January 29, 2026 board meeting (Key Developments)
Valuation Changes
- Fair Value: Unchanged at NGN 84.02 per share, indicating no revision to the analyst central valuation view.
- Discount Rate: Risen slightly from 29.57% to about 29.62%, reflecting a marginal adjustment to the risk and return assumptions.
- Revenue Growth: Effectively unchanged at around 23.66%, signalling stable expectations for top line expansion.
- Net Profit Margin: Flat at roughly 44.50%, with only a negligible technical adjustment in the modelled figure.
- Future P/E: Increased slightly from 4.05x to about 4.06x, implying a modestly higher valuation multiple applied to projected earnings.
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