We revise our target price on Ezz Steel up to EGP 12.07 per share from EGP 10.27 per share previously, using a WACC of 20% after accounting for the additional specific risk associated with the lawsuits ... read more
We value El Sewedy Electric at EGP 19.00 per share presenting a 9.13% premium over its recent closing price. This led us to maintain a HOLD recommendation driven by continued political uncertainty ... read more
We lower our target price on SODIC to EGP 18.48 per share from EGP 23.32 previously as Q1 results missed expectations. We maintain our ACCUMULATE rating despite the recent slump in share price as ... read more
As part of our Ezz Steel coverage, please find attached an update following its FY 2012 financial results. We maintain our target price at EGP 10.27 per share, using a WACC of 20% after taking into account ... read more
Talaat Moustafa released its financials for the first quarter of 2013, recording a 17% y-o-y increase in revenues to EGP 1,522 million, in line with our estimates. This is mainly led by a 15% growth in ... read more
We lower our target price on El Sewedy Electric to EGP 19.00 per share using a DCF method with a WACC of 16.50% and a terminal growth rate of 3%. Trading at a sizeable price-to-earnings ratio of 37, we do ... read more
We revised our target price on SODIC to EGP 23.32 per share, maintaining an ACCUMULATE rating after incorporating the Eastown land in our valuation. Although 2012 was a record year strengthened with an ... read more
We update our target price on Talaat Moustafa (TMG) to EGP 4.40 per share after taking into account Egypt’s shaky economic and political conditions. We believe that TMG’s share price will remain news-flow ... read more
We updated our target price on Ezz Steel to EGP 10.27 with a HOLD recommendation after accounting for the additional specific risk associated with the lawsuits that the company’s ex-chairman is ... read more
We downgrade El Sewedy Electric to a HOLD rating with Medium risk, lowering the target price to EGP 24.40 per share from EGP 28.2 due to the sustained uncertainty surrounding Egypt. The electric equipment ... read more
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