Al Ahly Pharos

In today's Pre-Session Views: Strategy | An easy-to-use valuation metric shows that ORAS path to the EGP600/share level is fairly smooth BTFH | CBE penalty on FAB-MISR can pull BTFH stock down by 10% at least AMOC | MIDOR deal aims to mitigate domestic pricing pressure SUGR | Weak quarter amid oversupply; limited catalysts ahead JUFO | 3Q25 steady; 4Q to lead earnings recovery as repricing fl...

In today's views Strategy | Exposure to New Cairo office space puts ACTF and BONY on the radar screen until year-end EGAL | 1Q25/26 results miss estimates on margin squeeze despite resilient pricing backdrop AMOC, CCAP | Refining margins get a boost as Diesel-HSFO spread widens

In today's views Strategy | Exports push ISMQ stock price to a record high and US-China deal may sustain the momentum in 2026 EFIH | GEM’s opening and Egypt’s tourism-fiscal themes can’t be ignored — we add EFIH to our high-conviction list ISPH | 3Q25 expectations: steady progress toward a breakout year in 2026 OLFI | 3Q25 expectations, resilient quarter, catalyst ahead

Strategy | ISMQ is a potential exposure to China recovery but no verdict until we meet with management SAUD | Leveraging NBFI growth and strong fundamentals  EGCH | Land sale further signals clear focus on deleveraging DSCW | Textile relocation wave positions DSCW as a key beneficiary in 2026

Strategy | We are buyers of every dip in Memphis PharmaWe are buyers of every dip in Memphis Pharma RAYA/RACC | RAYA/RACC acquisition is now most likely to go through at RAYA’s revised price of EGP9.0/share, exactly at the midpoint of our previously communicated price range PHAR | EIPICO III delay extends visibility gap, rotation toward MPCI and RMDA AMOC | Shareholder rotation reflects profitabil...

In today's Pre-Session Views: Strategy | IRON share price reflects a 50:50 chance of monetizing 8 million sqm of land within the coming 12 months DSCW | Appoints IFA to value Helwan land ahead of expansion plan

In today's Pre-Session Views: Strategy | RACC will like trade within EGP8.5 to EGP9.5/share until RAYA announces the next move DSCW | Textile modernization and FDI inflows bolster DSCW’s strategic positioning should overshadow the stock's illiquidity discount P-fertilizers | Foreign capital reinforces Egypt’s strategic role in phosphate fertilizers Pharma | MPCI leads Egypt’s pharma rall...

In today's views Strategy | EGP17.5/l diesel sends an all-clear signal to MPC beyond 2025  ETRS | We are bullish on Egytrans/NOSCO mergerWe are bullish on Egytrans/NOSCO merger

Strategy | Four deleveraging stories that will likely outperform in 2026  Macro/CSAG | USD/EGP at 45 and CSAG above its 52W high by early 2026 if Suez Canal traffic returns to normal LCSW | Turning windfall gains into momentum SKPC | 3Q25 results signal modest operating recovery EGBE, SAUD | set for their turn amid the rerating wave of banking stocks

Strategy | PHDC stock will likely re-rate to EGP10/share before end March 2026  ETEL | Tower monetization catalyst positions ETEL for the next leg up ORHD (coastal), TMGH (inland), and EFIH (infrastructure) | EGX’s clearest bets on tourism tailwinds

In today's views Strategy | Using replacement cost as a valuation metric flags ABUK, MCQE, BONY and AMIA as outliers  ORAS | A rare case of low risk/high return Cement Sector | New licenses signal long-term confidence, but short-term price impact remains limited

In today's views Strategy | ELEC is an illiquid stock but one that you cannot afford to miss at this stage of the cycle and at current valuations  BONY | Portfolio skewed towards tier-1 office space to narrow NAV discount JUFO | Bearish on concentrates, bullish on JUFO EKHO | Executing on capital recycling strategy