Cairo – Mubasher: Pharos Research has reiterated the "Overweight" recommendation on the stock of Al Ezz Dekheila Steel since the company is on track in improving margins already factored into Pharos’ valuation.
“We still expect GPM to improve over our forecast horizon to reach 13.3%. Additionally, we still expect working capital to weigh on cash flows in 2017 in tandem with rising costs due to a weaker EGP against the USD in addition to improvement in utilisation rates,” according to the recent report issued by Pharos Research.
