Cairo – Mubasher: Investment research – Prime Holding said it set its fair value for Abu Qir Fertilizers Co. at EGP 107.85 per share with ETR of 6.8% and buy recommendation.
Prime believes that Abu Qir Fertilizers will benefit from the cancellation of the subsidies on the petrochemical products. The company will be able to sell its products according to international prices, which will boost its financial results.
The company faces the risk of increasing the international prices of both the Urea and the Ammonia, which lead to raising the costs of its exports, noted Prime.
Abu Qir Fertilizers reported net profits of EGP 240.02 million for the first quarter of the fiscal year 2016/17, up by 18.8% y-o-y.
