Al Ahly Pharos

- Market Overview  - JUFO - ORWE - TMGH - ORHD - ORAS -,Prepared by: Mayada Amin- CETA, CFTe

Strategy | COMI can easily jump 5% just to recoup June-to-date losses and this could be the start of a 12M gain of 50% VALU | Investor-fueled rally may overrun fundamentals ATLC | Expanding opportunities in factoring and mortgage amidst leasing maturity OLFI | Management reaffirms growth plans and strong FY25 outlook ORWE management call | Near-term headwinds temper outlook, strategic investments...

- Market Overview  - ORAS - ORWE - FWRY - PHDC - JUFO - Prepared by: Mayada Amin, CETA, CFTe

Strategy| CICH will likely be the next NBFI to re-rate in 2H25 HRHO| Amazon's bet on VALU is a win for HRHO shareholders BTFH| BTFH secured USD funding — Is a USD-based target acquisition in sight? MTIE management meeting takeaways| An exclusive distribution and local production plans signal growth acceleration AMOC, CCAP| Wider Diesel-HFO spread signals margin upside for AMOC and CCAP

- Market Overview  - ADIB - BTFH  - PHDC - TMGH - EFIH - Prepared by: Mayada Amin, CETA, CFTe

Strategy| Betting on listed crude oil-related stocks is betting against the supply response of OPEC+ and US shale producers DSCW| valuation update ORAS | Private sector entry to water projects a tailwind for local contractors MTIE| Contribution to Basata Holding’s capital increase underscores commitment to microfinance growth

- Market Overview  - Prepared by: Mayada Amin, CFTE, CFTe

In today's Pre-Session Views: Strategy | COMI behavior during a sell-off suggests EGP80/share is a sold floor ADIB | Growth-oriented with capital preservation in mind; Ready to mitigate rate pressures HRHO | HRHO Dips Below EGP 25/Share—Time to load up JUFO | The margin tailwind fades as concentrates catalyst wears off ISPH | Earnings and cosmeceuticals growth on track; potential deleveraging...

- Market Overview  - ADIB - PHDC - TMGH - ORAS - FWRY  - Prepared by: Mayada Amin- CETA, CFTe

In today's Pre-Session Views: Strategy | ISPH sell-off is categorically unjustified EGAL | We remain buyers of EGAL as aluminum prices hit a 3-month high

Market Overview  prepared by: Mayada Amin- CETA, CFTe 

In today's Pre-Session Views: Strategy | Gauges of macro risk are not raising red flags yet DSCW | What did Management tell us ?  MCQE | valuation update

Market Overview  Prepared by: Mayada Amin- CETA, CFTe 

Strategy | DSCW stock showcases the strength of its embedded hedges in Black Sunday GBCO management call| Adding the stock as the 11th opportunity ABUK | Cheap on a status quo basis, but the "status quo" itself is being challenged HRHO | HRHO sheds more than just dividends: Accumulate below EGP25/share 

Market Overview  prepared by: Mohamed Othman- CETA, CFTe

Strategy| If India-Pakistan 4-day war is any guide, the market sell-off should be short-lived COMI| Post call with management, CIB is poised to rally once geopolitical risk subsides EKHO, ABUK, MFPC | If sustained, crude oil surge could fuel a urea price rally, benefiting EKHO, ABUK, and MFPC CSAG | Suez Canal Recovery Derails Amid Escalating Tensions: keep cautious of CSAG  HRHO | HRHO Goes Ex-Di...

- Market Overview  - HRHO - GBCO - EMFD - EGAL - DSCW - Prepared by: Mayada Amin- CETA, CFTe 

Strategy| Trump says deal with China is "done" and we say EGAL journey to EGP200/share is just getting started CSAG| CSAG crosses our FV target and time is ripe for a trim VALU| VALU’s fair value based on fundamentals but don’t mistake market momentum for more EKHO| Offer for Delta Insurance at EGP 40/share acts as key catalyst for divestment thesis MTIE over BINV| Long what’s ahead, hol...

- Market Overview  - GBCO - EGAL - ORAS - ORWE - ORHD - Prepared by: Mayada Amin- CETA. CFTe

In today's Pre-Session Views: Strategy | CIB could be poised for a super rally if management signals a higher dividend payout ratio BTFH | ACTF acquisition of a 5% stake in BTFH lends solid support to our initial take on the name 

- Market Overview  - ALCN - EMFD - MFPC - ISPH - ORWE - Prepared by: Mayada Amin- CETA, CFTe

In today's Pre-Session Views: Strategy| Loading up on DSCW as market intelligence confirms extraordinarily high demand for Egyptian ready made garments Rising Thai poultry exports post-Brazil outbreak to pressure poultry prices, though temporary import ban could support POUL revenues Chemical & Fertilizer Sector| Gas price exemption may shield margins EKHO| Alpha is contingent on value-ac...

- Market Overview  - COMI - CCAP - GBCO - EFIH - ABUK - JUFO prepared by: Mayada Amin- CETA, CFTe

In today’s view: Strategy| Tailwind is building up for DSCW BINV| HOLD BINV as long-term high margin investments are overlooked; OW MTIE as a pair trade ETEL| Unlocking full value is contingent on an option that is unlikely to materialize over the short term Sector Focus: Fertilizers and Petrochemicals| LNG allocation supportive but margin risk remains