Cairo - Mubasher: MubasherTrade Research has maintained their Buy/Moderate risk rating for Emaar Misr for Development, with a price target (PT) of EGP 4.04 per share, implying a 64% upside potential, according to a recent report.
“We are still awaiting the release of the detailed investor relations' presentation to update our model,” the research firm said in their report that was published on Wednesday.
Today, the company posted a 72% year-on-year rise in its profits for the first quarter of 2017.
Net profit for Q1-17 reached EGP 437.9 million, compared to EGP 254.48 million for Q1-16.
Revenues for the three-month period that ended on 31 March 2017 increased to EGP 668.69 million from EGP 597.42 million for the same period last year.
