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Hermes Recommends “Buy” On Orascom Telecom

by Amwal Al Ghad English

EFG-Hermes Orascom issued a report on Telecom Holding (OTH), recommending a buy on the stock, and defining the stock’s fair value at $3.95, compared to its market price of $2.83.

Orascom Telecom Holding (OTH) will likely release its Q2-12 financial statements today, Tuesday, 14 August 2012, after close of trading on the Egyptian Exchange (EGX) and London Stock Exchange (LSE).

Hermes forecasted earnings of $57 million, down from $116 million in Q1, on adverse FX movements. Both the Algerian Dinar and the Pakistani Rupee weakened during Q2 by 7% and 4%, respectively.

Mubasher

 

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