Dubai-Mubasher: Global Investment House set the fair value (FV) of Dubai-based courier Aramex at AED 4.07, with “Buy” recommendation, according to report published.
The fair value suggests an upside potential of 23.1% in the coming period.
Excluding the acquisition cost of Fastway Limited, the company would have seen a 13% growth in first-quarter bottom-line.
Global expected the acquisition to boost Aramex’s 2016 bottom-line by 3%.
The courier saw a favorable shift in revenue mix, driven by e-commerce growth in GCC and Oceania.
More than 25% of Aramex’s revenues are subjected to currency fluctuations, according to Global’s report.
The company’s stock rose 0.61% to AED 3.31 after generating AED 1.55 million from the exchange of 471,126 shares.
