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Egypt's Mobinil Share Price Target Cut By 21%
Published Aug 4, 2011
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The price target on shares of Egyptian telecoms firm MobiNil has been cut by AlembicHC by 21% to EGP103 on the back of lower margins and higher leverage, non-cash charges and taxes, Reuters has reported. MobiNil shares are expected to be under pressure until after it declares its third-quarter results, the brokerage wrote in a note. "We expect 2011 net profit to drop 80%," the brokerage, which backed its underweight rating, said.
Posted by
VMD - [Virtual Marketing Department]
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