We initiate coverage on Global Telecom Holding, an Egyptian mobile telecommunications company, with an ACCUMULATE rating and a target price of EGP 5.18 per share presenting a 10.5% premium over its recent ... read more
This report contains the second 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
The gap further widened between oil importers and oil exporters in the Middle East during the third quarter of 2013. The formers’ economies suffered from political turbulences with deteriorating resources ... read more
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
We maintain our ACCUMULATE rating on Yamama, raising our target price from SAR 57.74 to SAR 62.59 after it was reached in November. This only presents a 4.8% premium over its current closing price of SAR ... 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
Rather a passive year for the country, 2012 affirmed the transition of Lebanon to an economic slowdown, whereby it contemplated contracted growths in most sectors. The war in Lebanon’s only recognized ... 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 an ACCUMULATE rating on Yamama, raising its target price to SAR 57.74 from SAR 51.20 previously, after it was reached during June 2013 and continues to rally. Our overweight rating is further ... 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
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