Mubasher TV
Contact Us Advertising   العربية

NBK reinstates TMG fair value at EGP 11.8

NBK reinstates TMG fair value at EGP 11.8
TMG Holding
TMGH
-0.83% 58.49 -0.49

NBK Capital has maintained the fair value of Talaat Moustafa Group Holding (TMG) at EGP 11.8 a share, with a ‘Buy’ recommendation.

The research firm added that its positive outlook on the stock mainly stems from the company’s massive land bank and strong visibility over a prolonged period, sustained high demand in the Egyptian real estate market, TMG’s attractive positioning in the mid-income segment, and the company’s healthy balance sheet and cash flows.

The company’s net earnings for the nine months ending on Sept. 30, 2014 increased 17% to EGP 487.9 million, from EGP 417.8 million net profit reported in the same period a year earlier.