CSL sets NGN 63.60 target for United Bank for Africa stock

Published on 10/14/2026 at 05:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CSL cited 39.93 percent upside on October 7, 2026. United Bank for Africa stock had NGN 160.7 billion profit before tax in the first half of 2026.

Earnings and valuation markers

CSL Stockbrokers placed United Bank for Africa on its October list with a NGN 63.60 target.
Profit before tax reached NGN 160.7 billion in the first half of 2026.
The next confirmed earnings date is October 29, 2026.

UBA, NGUBA0000001, Illustration mit AI erstellt.

United Bank for Africa (ISIN NGUBA0000001) received a NGN 63.60 share-price target from CSL Stockbrokers on October 7, 2026, implying 39.93 percent upside from the NGN 45.45 reference price cited by BusinessDay. The analyst view puts valuation alongside a sequence of earnings figures that investors can use to judge whether the target is supported by operating performance.

What does the target imply?

BusinessDay reported on October 7, 2026, that CSL included UBA among its October BUY picks and set the target at NGN 63.60, or 39.93 percent above the NGN 45.45 price on September 30. CSL also said African subsidiaries generated more than 50 percent of group revenue in fiscal year 2025, while the annualized cost of risk was 2.00 percent in the first quarter of 2026.

The target is an analyst assessment rather than a reported company result. That distinction matters because the bank's earnings record provides the operating test for the valuation view, while the target itself depends on expectations for recovery and capital strength.

Three earnings markers

On September 27, 2026, MarketForces Africa reported unaudited first-half 2026 profit before tax of NGN 160.7 billion and profit after tax of NGN 146.6 billion, down 21.40 percent and 22.80 percent year over year, respectively.

On October 11, 2026, The Nation reported third-quarter profit before tax of NGN 61.56 billion. A separate The Nation report published on October 13, 2026, put third-quarter gross earnings at NGN 1.31 trillion.

Next reporting date

The next confirmed earnings date is October 29, 2026, according to StockAnalysis. The same page lists NGN 1.90 trillion in market capitalization as of October 12, 2026, a 52-week range of NGN 34.25 to NGN 55.20, and a trailing price-to-earnings ratio of 5.39.