A Comprehensive Report on Dangote Cement Plc and Stock Recommendation.
The valuation was estimated given a WACC of 16% in line with a cheap cost of debt in Nigeria and a perpetuity growth rate of 8%. Besides, the NOPAT doubled within the past five years and is expected to grow by over 50% within the next five years. Accordingly, a weighted average as shown in appendix 4 gives us our target price valuation of N352 per share for DANGCEM.