Report
Ziad Itani
EUR 91.36 For Business Accounts Only

Tabreed Update

​We are increasing our TP for Tabreed to AED 2.0 from AED

1.76 as a result of increased valuation of associates (Qatar

and KSA). We are now more enthusiastic going into FY 17e

as we expect either MCB buyback or another major capacity

increase announcement. The MCB buyback could add 29-

148% to FY 18e EPS (not in our target price). Buy reiterated

with 36.4% total return potential including 4.4% in

dividends.

Underlying
National Central Cooling Co

Provider
Arqaam Capital
Arqaam Capital

Established in 2007, Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for frontier and emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target frontier and emerging markets. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC), with additional offices in Libya, Lebanon, Egypt, and South Africa. 

Arqaam Capital's research platform provides the largest coverage footprint of MENA equities and one of the largest on the African continent with a total of 300 stocks under coverage. Arqaam Capital is ranked as one of the leading research providers in the region - a reflection of its broad coverage universe, its in-depth and high quality research, as well the compelling investment ideas that the team generates. The analysts closely analyze their sectors and issue in-depth company and sector research while the strategy team connects the micro with the macro, focusing on index analysis, macroeconomics and strategy research. 

Analysts
Ziad Itani

Other Reports on these Companies
Other Reports from Arqaam Capital

ResearchPool Subscriptions

Get the most out of your insights

Get in touch