Cairo – Mubasher: Prime Research recommended ‘Strong Buy’ on Emaar Misr for Development stock, according to a research note issued on Tuesday.
The research firm set the stock's fair value (FV) at EGP 3.94 per share, a price which reflects an expected growth of 50% compared to the current price.
Emaar Misr’s profits rose in the second quarter of the fiscal year 2016 by 25% to EGP 436.790, versus EGP 349.49 million in Q2-15.
Prime said that the company’s revenues increased in Q2-16 by 98% to EGP 1.18 billion, compared to EGP 597 million in Q1-16.
Revenues also rose by 46% year-on-year to EGP 1.18 billion from EGP 809 million in the compared period.
The stock ended Tuesday’s trading at EGP 2.63%.
