EFG-Hermes increases DP World share price target - The National

EFG-Hermes increases DP World share price target - The National:

"EFG-Hermes, the Egyptian investment bank, on Sunday increased its target price for DP World shares by 10 per cent after the world’s fourth-largest port operator last week announced resilient first half 2017 earnings amid improved global trade. The bank’s Cairo-based brokerage unit increased the target price for the stock to US$27.5 a share and reiterated its “Buy” recommendation on the company. DP World stocks on rose 3.93 per cent to $22.5 on Nasdaq Dubai at the end of trade on Sunday, still a fair discount on the recommended price. Wafaa Baddour, an analyst with the brokerage, said the lower level of leverage of DP World, better global trade trends, and the company’s more attractive 2018 price-to-earning multiple compared with its peers were the factors behind the target price increase."



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