MIDEAST STOCKS-Gulf mixed early on, Emaar Properties pulls up Dubai:
"Gulf stock markets were mixed in early trade on Wednesday but a rebound by real estate blue chip Emaar Properties lifted Dubai. The Dubai index gained 0.6 percent as Emaar, which had been trading near 14-month lows because of a slumping Dubai real estate market, surged 2.8 percent to 6.20 dirhams. The stock had reached a trailing price-earnings ratio of about 7.6 times, according to Thomson Reuters data - cheap by emerging market standards. Of 12 analysts rating it, 10 have a “buy” or “strong buy” rating and none have a “sell”, according to a Reuters survey; their median target price is 9.45 dirhams."
'via Blog this'
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