Cairo – Mubasher: Prime Holding's Investment Research assigned a 'Buy' recommendation on Porto Group Holding, according to a research note issued on Monday.

The research firm  set the stock's fair value (FV) at EGP 0.47 per share, the note revealed.

The research unit explained that all joint ventures raise the stock's fair value, along with its strong portfolio for developing lands at the current moment.

Further, all legal procedures taken to complete Porto Agadir in Morocco will strengthen the stock's value. 

The stock quote rose 3.57% to EGP 0.29 with 49,660 shares changing hands at EGP 648,000 in Monday's trading session.