The second quarter of 2013 was characterized by mass events that threatened to flip the regional status-quo of the Middle East, thus halting Read More
Equity Research
Alert on FY 2013 – Maintaining a Hold on Solidere with a fair value of USD 15.87 but a lower 6-month target price of USD 13.31 due to company’s struggle amidst the deteriorating investment climate
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 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 Read More
Equity Research
Alert on Q1 2013 – Maintaining a HOLD on El Sewedy on sustained political uncertainty
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 – Downgrading Solidere to a HOLD with a fair value of USD 16.10 but a lower 6-month target price of USD 11.80 due to instability in Syria
Following the release of Solidere’s 2012 results, Blominvest Bank has issued its update on the Lebanese real estate company downgrading its rating Read More
The war in Syria plays a mounting role in the destiny of neighboring economies which are already facing their own domestic challenges, Read More
Equity Research
Alert on FY 2012 – Issuing a HOLD on Ezz Steel on persistent macroeconomic and firm-specific risks
As part of our Ezz Steel coverage, please find attached an update following its FY 2012 financial results. We maintain our target price Read More
Equity Research
Alert on Q1 2013 – Maintaining a HOLD on TMG with a target price of EGP 4.40 per share
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 Read More
Equity Research
Alert on FY 2012 – Maintaining an ACCUMULATE rating on Arab Bank and a Target Price of JOD 7.84 per share
We maintain an “Accumulate” rating on Arab Bank with a target price of JOD 7.84, presenting a 10.9% premium over its recent closing price. Read More
Equity Research
Alert on FY 2012 – Maintaining a HOLD on El Sewedy on ongoing challenging environment
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
