Tamweel's improved liquidity position should allow the Dubai mortgage firm to capitalise on expected growth in the UAE's property market, according to an analyst at Alembic HC Securities.
The firm "has extended the duration of its obligations to five years. This has led to a solid matching of cash flows, fixing the mismatch position that existed before last year", said Jaap Meijer.
He initiated coverage with an "overweight rating" and a target price of Dh1.42 a share. The stock lost 2.1 per cent yesterday to close at Dh0.94.
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