IAM Preview: A security to still hold
- Release of its 2018 annual achievements scheduled on 02/18/2019, before the opening of the market;
- We maintain our 2018 forecasts unchanged, given the evolution of the company’s Q3 2018 financial indicators and those of the market at the same period;
- IAM maintains its leading position in Q3 2018 across all segments with a market share of:
- 7% for the Mobile activity (against 42.9% at end June 2018 and 42.6% in Q3 2017);
- 1% for the Landline segment (vs. 85.6% in Q2 2018 and 82.6% at end September 2017), including restrictive mobility;
- And, 53.1% for the Internet business (against 53.7% on 06/30/2018 and 49.0% in Q3 2017).
- Recommendation to hold maintained pending the release of IAM’s 2018 financial statements.
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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