Dubai – Mubasher: KAMCO Research set Aramex’s price target (PT) at AED 5, while maintaining a “Neutral” recommendation, according to a report.
The firm raised Aramex’s earnings per share (EPS) by 52% in 2017 and by 32% in 2018.
The e-commerce market in the GCC region is expected to grow at a compound annual growth rate (CAGR) of over 30% from $5.3 billion to $19.8 billion.
KAMCO remains optimistic on the strategy of looking at growth outside the GCC.
