Dubai-Mubasher: MubasherTrade Research (MTR) increased the price target of Emaar Malls Group (EMG) from AED 2.65 to AED 3.17, while maintaining a “Buy” recommendation, according to a recent report posted on Thursday.
The research unit raised Emaar Malls’ PT on the back of better-than-expected operating performance, implying a total return of 27.5%, including a 1.7% dividend yield.
The Dubai-based firm’s expansions are expected to sustain the impressive margin in the coming period, according to MTR.
The report added that the EMG’s possible expansion plan could add another AED 0.38 per share to MRT’s price target, as well as boosting rental income to grow at a 6-year CAGR of 10.4% through 2020.
