Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, was initiated with an “overweight” recommendation and a price target of 6.25 dirhams at JPMorgan Chase & Co.
“Emirates NBD’s valuation discount in the current market scenario looks significantly overdone to us, notwithstanding the reasonable investor concerns on the Dubai property sector and debt refinancing of Dubai government entities,” analysts including Naresh Bilandani and Christian Kern wrote in a research note today.END
No comments:
Post a Comment