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Pharos Research sets fair value of MNHD's share

Pharos Research sets fair value of MNHD's share

ArabFinance:  Pharos Research announced on Feb. 04, 2020 the fair value of Madinet Nasr Housing & Development (MNHD) at EGP 8/share, according to research note. 

It maintains an overweight recommendation based on our FV of EGP8.00/share, which is mainly supported by the company’s residual Taj City and SARAI land, which constitutes 71.6% of our total valuation.

The valuation gap between the last trading price on Feb. 03 and the fair value of the share, evaluated by Pharos Research, is 69.5%, as the last price was EGP 4.72.

It is worth mentioning Pharos Research expects 2020 sales to be around 20% lower YoY. 

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