Hermes upgrades Telecom Egypt fair value to LE 17.3/share [Arab Finance (Egypt)]
(Arab Finance (Egypt) Via Acquire Media NewsEdge) Arab Finance ETEL : EFG-Hermes increased, in a recent study, Telecom Egypt ( ) fair value (FV) by 6 % to LE 17.30 per share, mainly on higher valuation for i) the Cable System (within the fixed-line segment) and ii) TE Data. Hermes added that, it reiterated Buy rating on the stock with a 32% upside potential. On the other hand, Hermes stated that, its valuation for Vodafone Egypt (VFE), however, drops by 11% on lower revenue forecasts.
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