Cairo - Mubasher: Pharos Research maintained their "Overweight" recommendation on the stock of Global Telecom Holding, with a target price (TP) valuation range of EGP 7.40 to EGP 10.60 depending on tower sale proceeds, according to a recent report.

“Our sum of parts valuation for Global Telecom calculates a TP of EGP 7.40 per share, excluding the proceeds from the tower sale, which could potentially add EGP 1.90 to EGP 3.80 per share,” the report indicated

Pharos also noted that the share price continues to trade at attractive multiples compared to emerging market peers.

The share price was negatively impacted by news concerning the court case, as the market overpriced the litigation effect.