Kuwait-Mubasher: NBK Capital has maintained its "Buy" recommendation on Mabanee Company stock, with a fair value at KWD 1.16, according to a recent statement.
NBK Capital, the investment arm of NBK, said that it continues to maintain a positive outlook on Mabanee because of its expansion plans, including The Avenues in Kuwait.
Mabanee is willing to enter Saudi Arabia with plans to open three malls in the next four-five years, NBK Capital’s research unit added.
“Our main comfort factor regarding Mabanee's regional expansion plans is the continuing support from its strong parent – Alshaya,” noted NBK’s report.
The Kuwaiti company has posted KWD 11.913 million profits in Q4-15, compared to KWD 11.912 million in Q4-14.
