HSBC said, in its annual report on Egypt, it maintained its target price estimates for Sixth of October Development & Investment Co. (SODIC) and Talaat Moustafa Group Holding (TMG).
The banks reiterates SODIC’s target price at EGP 18.1, with an Overweight rating.
SODIC is expected to post EGP 262 million profit in 2014, EGP 488 million in 2015 and EGP 528 million in 2016, according to the report issuer.
HSBC also maintained TMG’s target price at EGP 12, with an Overweight rating.
It expected TMG’s earnings to rise to EGP 985 million in 2014, EGP 1.135 billion in 2015 and EGP 1.015 billion in 2016.
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