Cairo – Mubasher: Renaissance Capital has set the target price (TP) of Telecom Egypt’s stock at EGP 17, with an overweight recommendation.  

The research company referred to the sluggish growth of the number of new subscribers in mobile services in the second quarter of 2019.

Telecom Egypt reported a 3% year-on-year profit hike during the first half of 2019 its net profits, logging EGP 2.133 billion.