Cairo – Mubasher: Beltone Research has set the fair value (FV) of Talaat Moustafa Group Holding’s (TMG Holding) stock at EGP 18.65, with an overweight recommendation.

The research company expected that TMG’s sales will improve during the second six months of 2019, noting that the company will record EGP 24 billion in sales for the full year, according to a report released on Wednesday.

TMG Holding reported an 11% year-on-year profit increase during the first half of 2019, the company’s unaudited consolidated financial results showed.