Cairo - Research: Prime Research lowered its fair value of Ezz Steel from EGP 11.7 to 9.2 per share, with expected growth of 30%, placing a “Buy” recommendation on the stock.
This is a result of the increase in the risk free rate to 16% before taxes, the research firm said on Tuesday.
The pound devaluation and EGAS refusal to reduce the gas prices will affect the company’s results on the short term according to Prime Research which believes Ezz Steel will see weak results in Q3-16.
