Dubai – Mubasher: MubasherTrade Research (MTR) issued a report on UAE’s port operator DP World, maintaining a ‘Buy’ recommendation on the stock and setting its price target at $26.28, implying a total return of 38%.
The report issuer said DP World’s 2015 earnings beat its estimates by 7%.
DP World posted 26% year-on-year growth in FY15 earnings to $883 million.
“During the year, DPW pursued a successful acquisition and expansion plan to overcome challenging market conditions and focus its operations in high-growth, high-margin business. The plan is bearing its fruits, confirming our positive view on the company,” said MTR.
