We revise our target price on TMG up to EGP 6.18 per share, representing an upside potential of 10.2% over the recent closing price leading us to issue an ACCUMULATE rating. TMG stock rallied by more than ... read more
This report contains the first public release of data collected from the new monthly survey of business conditions in the Lebanese private sector. The survey, sponsored by Blominvest Bank and compiled by ... read more
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
The second quarter of 2013 was characterized by mass events that threatened to flip the regional status-quo of the Middle East, thus halting most economic plans in oil-importers countries and pausing ... read more
We maintain a HOLD rating on Solidere with a 6-month target price of USD 13.31, a 4.1% premium over today’s closing price of USD 12.79. Solidere’s revenues came in at USD 155 million in 2013, up from ... read more
We lower our target price on Holcim Liban (HL) to USD 15.10 from USD 15.21 previously, maintaining a HOLD recommendation. HL appears to be undervalued with a price-to-earnings ratio of 13.62 compared to ... 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
Following the release of Solidere’s 2012 results, Blominvest Bank has issued its update on the Lebanese real estate company downgrading its rating to a HOLD with a 6-month target price of $11.80. ... read more
The war in Syria plays a mounting role in the destiny of neighboring economies which are already facing their own domestic challenges, while the oil exporter countries continue to perform well while taking ... 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
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