Doha – Mubasher: MubasherTrade Research (MTR) said initiated coverage for Al Meera Consumer with Hold/Low Risk, where it set the company’s price target (PT) at QAR 231.5 (ETR +5.2%) per share.
MTR used two valuation models to value Al Meera; discounted cash flow (DCF), resulting in QAR 267.0/share and multiples valuation based on 2016e PER and EV/EBITDA, resulting in an average of QAR 148.8/share.
MTR assigned 70%/30% weights to both models, respectively, reaching a one-year price target (PT) of QAR 231.5/share, an expected total return (ETR) of +5.2%.
