UPDATE 2-MIDEAST STOCKS-Juhayna Food lifts Egypt, Saudi Arabia flat | Reuters:
"Egypt's bourse edged higher in early trade on Wednesday as Juhayna Food Industries rebounded after sliding on disappointing third-quarter results, while Saudi Arabia's index was nearly flat.
The Cairo measure rose 0.2 percent. Juhayna Food was among the main supports, jumping 3.2 percent to 8.98 pounds. The stock slumped earlier this week after the firm posted a 42 percent drop in third-quarter profit last Thursday, missing analyst estimates.
Cairo-based brokerage Naeem has upgraded Juhayna to "accumulate" from "hold" with a target price of 10.40 pounds, despite the earnings miss, saying it expected the company's margins to improve."
'via Blog this'
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