Al Ahly Pharos

In today's views Strategy | MCRO 19% share price rally has pushed 2026 earnings multiples to sector average. Time to exercise caution.  MFPC | Urea prices likely to decline as cost curve shifts

*Key Views for today* Strategy | Tuk Tuk replacement program is outright "Qute" for GB Auto, GB Capital and financial inclusion. ISPH | Government arrears clearance eases working-capital pressure; valuation remains attractive MPRC | Eyeing a potential land monetization story as Egypt announces a new media city near the pyramids. ALCN | ADP’s move goes beyond a stake; Strategic control, p...

In today's Pre-Session Views: Strategy | Spinney's Egypt deal and the simple math of value show that ISPH should be trading at EGP15/share ADIB | The simple math of a capital increase JUFO | Export mix reweighting and positioning for 2026 volume recovery EKHO | Results call highlights new UK pyrolysis project; operational resilience and capital recycling underscore upside potential ORWE...

In today's views Strategy | DOMT, OLFI, JUFO and AMIA under the microscope as Arla deal is recalled to life PHDC | Management confirms Abu Dhabi project to be launched during 1Q26 ETEL | Share price is approaching our FV upper end of EGP73/share, what is incorporated and what’s not?

In today's views Strategy | Nile Pharma (NIPH) is closing in on Rameda and this may trigger arbitrage opportunities ISPH | The decline in ISPH stock price yesterday confirms that 3Q25 results are strong. VALU | 9M25 bottom line is consistent with a full year target of EGP750 million  ETEL | Share price is approaching our FV upper end of EGP73/share, what is incorporated and what’s not? MFPC |...

In today's views Strategy | TAQA Arabia is a cash-generating utility company that is dressed up as a growth company TAQA | On track to post a bottom line in excess of EGP1 billion in 2025 but valuation multiples are a bit stretched ETEL 3Q25 | On the verge of a decisive turnaround: 1) 2025 is set to exceed expectations, 2) net debt has fallen below EGP70 billion mark, 3) capex/sales is now be...

In today's views Strategy | The most hated EGX30 constituent is due for a 10% rebound ISPH | The company should consider the release of bad news if good news is value destructive POUL | It is not chicken that investors are after. It is the net cash balance Egyptian Banks | Imminent rerating of banking stocks SUGR | Sugar import ban to ease inventory pressure, limited price impact expected; ma...

In today's Pre-Session Views: Strategy | COMI is not rallying in a vacuum. It tracks GCC peers  EFID | 3Q25 results are strong but valuation is slightly stretched versus peers JUFO | Milking the core EFIH | Management sets upbeat tone and outlines three strategic pillars: private sector penetration, growing government-related verticals, and offshore expansion

In today's views Strategy | GBCO has become the authorized dealer of Li Auto and this may partially offset weakness in Iraq and Jordan MACRO | October inflation print is milder than expected and will likely pave the way for a 1-2% December rate cut CSAG | Re-rating underway; scope for further upside versus ALCN EGCH | Resilient margins supported by pricing; operational recovery yet to show OR...

Strategy | Three stocks have tied the knot and they will all look at Tabby and MNT-Halan IPOs for clues.  ADIB | Growth first, payouts second ETEL | Global cable investments are doubling and red sea tensions eased. Another catalyst joins three game-changers pushing ETEL to EGP85/share over 12 months EFIH 3Q25 expectations | Profits of EGP700 million will lock in targets and push share price to EGP...

In today's views Strategy | October 2025 inflation print will likely keep policy rates unchanged on 20 November 2025 but the likelihood of a December rate cut has increased   ISPH | Market diversification and rate sensitivity drive robust 2026 earnings outlook DSCW | Helwan expansion gaining traction with latest land acquisition Cement Sector | New capacity approvals highlight long-term confi...

In today's Pre-Session Views: Strategy | Eyeing three imminent stock-moving corporate actions   ETEL | Chasing its legacy multiples: What could push towards 8-9x and EGP85/share? Lessons from regional peers: P/E vs capex/sales, D/E, and capex/CF EFIH | Four momentums in a week drove 35% of the YTD performance – an exposure worth keeping for 2026 CCAP | ERC debt will stand at c. USD800 million...