Cairo – Mubasher: SHUAA Securities has set the fair value (FV) for Orascom Development Egypt’​s stock at EGP 11.9, 63% higher than its market value.

Orascom’s 2018 financial results have reflected a positive performance and a recovery in Egypt’s tourism sector, SHUAA said in a report on Wednesday.

The Cairo-based research firm also highlighted that Orascom Development is one of the best strategic options for investment in 2019.

In March, Orascom Development posted a consolidated profit of EGP 500.19 million for 2018, compared to EGP 391.9 million in 2017, including minority shareholders’ rights.