We upgrads our rating on Solidere to an ACCUMULATE with a 6-month target price of USD 14.80. While 2011 presented a challenging year for Read More
Revenues at the cement producer reached USD 196 million in 2011, growing by 5.7% y-o-y, led by rising prices and slight growth in local demand. Read More
We upgrade our rating on Ezz Steel to an ACCUMULATE rating with a fair value of EGP 8.60 following the release of its 2011 Read More
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
We maintain our HOLD rating on Ezz Steel, and revise our target price upward from EGP 4.3 previously to EGP 6.5 due to a Read More
Ezz Steel reported a 24% y-o-y jump in revenues in H1 to EGP 9,334M, led by strong private residential construction activity despite the Read More
We value Yamama Cement at SR 74 per share using a discounted cash flow model with a 12.7% discount rate and a 2,5% terminal growth Read More
Holcim Liban (HL) seems to have unexpectedly shielded its grey cement operations from the slowdown in the Lebanese real estate sector, as Read More
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
We have updated our recommendation on Ezz Steel to a HOLD rating, with a fair value of EGP 9.50 per share presenting an Read More
