Cairo – Mubasher: SHUAA Capital's equity research department on Sunday announced that it has set the target price of Ibnsina Pharma’s stock at EGP 13.2 a share, with 'Overweight' recommendation.
SHUAA said in a research note that it had defined three scenarios to determine the changes that may weigh on the pharmaceutical firm’s performance, namely the market share, profit margin and the lawsuit against the company.
Ibnsina has appealed against an EGP 5.58 billion fine for violating the competition protection act.
The Egypt-based pharmaceutical distributor last reported a 31.6% year-on-year profit increase for the first nine months of 2018, logging EGP 188.3 million, versus EGP 143.1 million.
