Cairo – Mubasher: MubasherTrade Research set its price target (PT) for Orascom Construction Ltd at AED 6.5/shr, with a "Hold" recommendation.
The research firm commented on the company's financial performance, saying that the firm turned to profits beating expectations.
Orascom posted a net income amounts to $48.7 million for FY16, against losses worth $347.8 million for FY15.
Mubashertrade attributed the profits to rationalization of costs and profit margins, in addition to the delivery of the implemented projects.
