Mubasher: MubasherTrade Research maintained a "Buy" recommendation on MB for Engineering and Contracting, setting the target price at EGP 1.82, according to a research note.
“The flotation of EGP is believed to increase the competiveness of MB's local products, acting as a cushion against any drop in the trading business due to the foreign exchange crunch,” the note said.
The company earlier posted a net profit of EGP 8.9% for fiscal year 2016, rising 15.9% year-on-year.
