Cairo - Mubasher: MubasherTrade Research has maintained their Buy/Moderate Risk rating of Sidi Kerir Petrochemicals Company (SKPC), with a price target (PT) of EGP25.53 per share, implying an upside potential of 28%.

The research firm said that the company’s earnings were below estimates, but it remains positive on the stock and maintain their rating, given its USD nature, according to a recent report.

MubasherTrade believes that the fincnaicla results recorded in the third quarter of 2017, are non-recurring, the report noted.

Sidi Kerir recently reported a 29.4% year-on-year rise in profit for the first nine months of 2017 due to higher sales.

Net profits amounted to EGP 703 million in the nine-month period that ended in September, compared to EGP 543 million in the prior-year period.

During the same period, sales volumes rose to EGP 3.3 billion, EGP 2.2 billion last year.