Doha – Mubasher: NBK Capital lowered the fair value of Vodafone Qatar by 22% to QAR7 from QAR9, retaining a “Sell” recommendation.
“We have adjusted our forecasts for Vodafone Qatar (VQ) following the release of its 3Q2016 results (the FY ends in March) to reflect the increasingly tough operating environment in Qatar and VQ’s revised guidance. Price competition and changing consumer behavior have taken a toll on operating margins; this has led us to cut our fair value,” said the research firm.
Vodafone Qatar Q3-15 net losses reached QAR285.7 million, compared to QAR149.8 million the year-ago period.
