Cairo - Mubasher: MubasherTrade Research has maintained their "Hold/Moderate Risk" investment rating of Telecom Egypt (TE), with the same price target (PT) of EGP 10.95.
The research firm said that it will update its model to take into account the recently-released financial results for last year, as well as the EGP flotation that took place in November 2016.
TE posted a consolidated net loss of EGP 510 million for the fourth quarter of 2016, against a consolidated net profit of EGP 860 million in Q4-15.
Consolidated net profits for the previous year amounted to EGP 2.67 billion, 10.7% down from EGP 2.99 billion in the year before.
