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Beltone sets GB Auto's fair value at LE3.53 with buy rating

Beltone sets GB Auto's fair value at LE3.53 with buy rating

Arab Finance: Beltone Financial research unit set the fair value of GB Auto’s (AUTO) at LE3.53, as it recorded revenues of LE4.321 million in the third quarter of 2016, representing 36.3% growth, with a buy recommendation.

Moreover, GB Auto posted consolidated net profits of LE184.896 million in the fiscal period starting January and ending September 2016, versus net profits of LE209.666 million a year ago.

It is worth mentioning, last September Prime Holding cut GB Auto's fair value to LE3.33\share due to dollar shortage as well as increasing inflation rates in Egypt.

Source: AlBorsa newspaper & Arab Finance editor

 

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