Cairo - Mubasher: Pharos Research has set the fair value (FV) for Sixth of October for Development and Investment (SODIC) at EGP 23.09 per share, which implies upside potential of 66.0% from the current market price, according to a recent report.
The research firm FV includes the firm’s development projects at EGP 14.38 per share, unutilized land at EGP 6.01 per share, and net cash at EGP 2.70 per share, the report explained.
“The current market price of SODIC’s stock does not reflect the value of its East Cairo development portfolio which includes Villette, Eastown, the co-development project with HELI, and Kattameya Plaza,” the report noted.
