SODIC
OCDI
OCDI
OKAZ Stock Brokers & Investment Consultants raised its fair value estimate for Six of October Development & Investment Co. (SODIC) from EGP 27.69 to EGP 41.86, saying this came after the company had obtained a 301.48 feddan land plot in New Cairo.
As the company’s fair value is 9% lower than the market price, OKAZ downgraded its recommendation on the stock to Sell from Hold.
The brokerage firm expected SODIC to post EGP 157.4 million net profit for FY14, EGP 300 million in FY15 and EGP 340.9 million in FY16.
It also expected revenues to reach more than EGP 1.51 billion in FY14, EGP 1.733 billion in FY15 and EGP 1.923 billion in FY16.
As the company’s fair value is 9% lower than the market price, OKAZ downgraded its recommendation on the stock to Sell from Hold.
The brokerage firm expected SODIC to post EGP 157.4 million net profit for FY14, EGP 300 million in FY15 and EGP 340.9 million in FY16.
It also expected revenues to reach more than EGP 1.51 billion in FY14, EGP 1.733 billion in FY15 and EGP 1.923 billion in FY16.
Source:
Mubasher
