Cairo – Mubasher: Renaissance Capital set its target price (TP) for EFG-Hermes at EGP 13.5 per share, with a Hold recommendation.
EFG-Hermes enjoys strong position within the brokerage as well as the investment banking sectors, in addition to its potential benefit from the expected rebound in the region’s financial markets, said the report.
On the other side, EFG-Hermes overall evaluation may be effected by the latest performance of its stocks and the risks associated with some of its expected acquisitions in the frontier markets, noted the report.
The activities of brokerage as well as investment banking may show remarkable performance on the short –run, but we still cautious regarding the company’s expansion strategy in each of Asia and Africa, said the report.
