We revise down our target price on Global Telecom to EGP 4.20 from a previous EGP 5.18, updating our recommendation to REDUCE in the absence of clear prospects for the future. We believe the upside ... read more
Lebanon’s public finances have long been precarious. According to the World Bank, in the 10 years prior to the Syrian conflict, the fiscal deficit averaged 9.7% of GDP, taking the debt to GDP ratio to a ... read more
“The private sector’s economy has further contracted in March, as gauged by Blominvest’s economic indicator “BLOM PMI” released today. Posting 46.2 for the month, BLOM PMI was slightly above its February’s ... read more
Oil is no longer the world’s most valuable commodity, water snatched the title. Numerous statements were recently published explaining that one bottle of water’s price will soon match that of one bottle of ... read more
The headline on KPMG’s 2013 Food and Beverage Industry Outlook reads: “The table is set for change”. Indeed, the global F&B industry is going through a sweeping alteration as advanced technology ... read more
We revise our target price on Talaat Moustafa up to EGP 9.17 per share from EGP 6.18 per share previously after it was reached during December 2013 and continues to surge. Our favorable rating is supported ... read more
Despite a strategic location in the Middle East and accustomed free trades, circumstances remain against Lebanon becoming the region’s hub in terms of international trade, investment and tourism. Lebanon’s ... read more
Over the course of 2013, the Lebanese economy faced critical operating conditions. The macroeconomic backdrop was rattled by recurrent security incidents and political deadlocks on one hand and by ... read more
Although the BLOM Lebanon PMI registered 45.5 in February 2014, up from 44.7 in January, the reading still signals deterioration in the performance of the private sector. Commenting on the latest survey ... read more
We maintain an ACCUMULATE rating on Ezz steel, revising our target price up to EGP 19.78 per share on easing levels of political tensions and economic uncertainties. Revenues increased by 7.7% y-o-y to ... read more
We lower our target price on Holcim Liban (HL) to USD 14.62 from USD 15.10 previously. Holcim shares are yielding a very attractive 5%-7% in dividends but the political unrest sweeping the Arab World ... read more
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