Equity Research Alert on Q3 2014 – Maintaining an ACCUMULATE on El Sewedy following impressive operational and financial performance admin December 24, 2014 We maintain our ACCUMULATE rating on El Sewedy Electric, revising our target price to EGP 45.14 per share on ongoing impressive operational and Read More
Equity Research Alert on H1 2014 – Maintaining an ACCUMULATE on El Sewedy following impressive half-year operational and financial performance admin September 22, 2014 We maintain our ACCUMULATE rating on El Sewedy Electric, revising up our target price to EGP 46.23 per share on signs of improving Read More
Equity Research Alert on FY 2013 – Issuing an ACCUMULATE on El Sewedy on easing political and economic conditions admin May 1, 2014 We revise up our target price on El Sewedy to EGP 37.71 per share, issuing an ACCUMULATE rating as the easing political and Read More
Equity Research Alert on Q3 2013 – Downgrading El Sewedy to REDUCE as rise in earnings doesn’t justify surge in price admin January 2, 2014 El Sewedy reported a 6% y-o-y rise in Q3 revenues to EGP 3.5 billion as a result of a 10% increase in the wire and Read More
Equity Research Alert on Q1 2013 – Maintaining a HOLD on El Sewedy on sustained political uncertainty admin June 28, 2013 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 Read More
Equity Research Alert on FY 2012 – Maintaining a HOLD on El Sewedy on ongoing challenging environment admin April 22, 2013 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 Read More
Equity Research Alert on Q3 2012 – Reducing El Sewedy to a HOLD on sustained instability in Egypt admin February 8, 2013 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 Read More
Equity Research Alert on H1 2012 – El Sewedy undervalued, but Syria and Sudan pose downside risks admin September 10, 2012 We upgrade El Sewedy to an ACCUMULATE rating with Medium risk following the release of their H1 2012 results, raising the target price Read More
Equity Research Alert on FY 2011 – Lowering our fair value on El Sewedy on high uncertainty surrounding cables operations admin April 5, 2012 We expect demand in Egypt to remain weak in 2012, further dropping by 20% according to SE’s management, on limited public spending as Read More
Equity Research Alert on H1 2011 – Upholding El Sewedy to a HOLD on short term political uncertainty admin September 13, 2011 We maintain our fair value for SE at EGP 32.40 per share after accounting for the recent 30% stock dividend distribution at a ratio Read More