Oriental Weavers
ORWE
ORWE
HSBC has defined its target price estimate for Egypt’s carpet producer Oriental Weavers (OW) at EGP 67 per share, assigning an Overweight rating.
The bank said, in its annual Egypt report, the company may post a profit rise to EGP 491 million in 2014, EGP 624 million in 2015 and EGP 825 million in 2016.
The target price may decrease if shrinking of the company’s markets continues, in the presence of marginal pressures due to higher prices of raw materials, HSBC said.
OW had posted EGP 322 million net profit with a rise by 10.6% in the first nine months of FY14.
Photo Credit: Arabianeye-Reuters
The bank said, in its annual Egypt report, the company may post a profit rise to EGP 491 million in 2014, EGP 624 million in 2015 and EGP 825 million in 2016.
The target price may decrease if shrinking of the company’s markets continues, in the presence of marginal pressures due to higher prices of raw materials, HSBC said.
OW had posted EGP 322 million net profit with a rise by 10.6% in the first nine months of FY14.
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
