CFG Bank Forecasts 2026 Casablanca Market Normalisation and Reveals Eight Top Stock Picks

After three years of rapid expansion, the Casablanca Stock Exchange is expected to enter a normalisation phase in 2026, according to CFG Bank. Earnings growth will become the main driver of market performance, with a modest 5.8 % increase in profit mass projected for the year. CFG identifies eight companies – spanning banking, mining, real estate, health and technology – that offer the best medium‑term upside. The bank argues that, once over‑valued stocks are stripped out, the index still holds about an 8 % residual premium, making selective stock‑picking the key to out‑performance. The eight recommended equities – Mutandis, Akdital, HPS, Crédit du Maroc, Aradei Capital, CIH Bank and Attijariwafa Bank – are each assigned target prices that imply upside ranging from 18 % to more than 50 % over the next two to three years.

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