The Weekly Street Note — W26 · 26 Jun 2026 Premium

MTNN Returns, CONOIL Surges — Breadth Holds at Five

The market found its footing this week. MTNN returned to Conviction Buy after a one-week absence, its technical score recovering as selling pressure from last week's CBN compliance fears eased. The roster stays at five names for a third consecutive week — a sign of stability at the top of the quality curve even as the broader market reprices.

CONOIL was the headline story in the movers table — a +12.9 composite surge driven by upstream price momentum and improving order-book dynamics. The Oil & Gas sector continues to benefit from Nigeria's production recovery, and the smaller, more nimble names are catching bids as institutional flow broadens beyond the large-caps.

Three Names Worth Your Attention

MAYBAKER holds the top composite at 79.5, even after shedding 5.4 points from last week. The HealthCare story hasn't changed: P/E 13.8x, ROE 30.6%, 12.3% net margin. The slight pullback in composite is a technical score softening — the fundamentals pillar (72/100) is unmoved. This remains the most consistent high-scorer in the universe week after week.

MTNN comes back in at 78.1 — the highest technical score (88/100) in the Conviction Buy list this week. The telco's financial pillar (82/100) is exceptional, and a P/E of 12.9x with ROE of 147.1% makes the valuation look undemanding at current prices. Daily volume of ₦1.08B means institutions can size positions without moving the market.

TIP scores 76.5 with the highest financial health pillar (86/100) among the top picks. P/E 6.2x, 60.9% ROE, 29.9% margin — the value case continues to sharpen. Thin liquidity (₦144.5M ADV) keeps this a patient accumulator's name rather than a trading vehicle.

Movers This Week

Biggest gains — CONOIL's +12.9 composite jump was the standout, reflecting a sharp improvement in both valuation and technical scores. CORNERST (+11.0) extended its recovery in Financial Services. MEYER (+6.1), LIVINGTRUST (+5.3), and UPL (+4.6) all posted meaningful gains without a clear single catalyst — broader risk-on sentiment lifting mid-cap names.

Biggest losers — JAPAULGOLD (-9.6) led decliners as the precious-metals name gave back recent gains. CUSTODIAN (-8.7) and GUINEAINS (-6.9) continued the insurance sector softness that has been building over several weeks. MAYBAKER (-5.4) and REDSTAREX (-4.8) rounded out the fallers — both remain in positive territory overall.

Watch list — CUSTODIAN and GUINEAINS have now declined for two consecutive weeks. Neither is approaching Avoid territory, but the trend in Financial Services insurance names warrants monitoring. Watch for stabilisation next week before treating either as an opportunity.

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⚠ Research output only — not personalised investment advice. MoloneyStreetRe Analytics publishes quantitative model scores for research and education purposes. Always carry out your own due diligence before making any investment decision. Capital is at risk.