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Credit Suisse ups Telecom Egypt target
- Egypt: Thursday, September 10 - 2009 at 11:55
Credit Suisse has raised its price target on Telecom Egypt to EGP20 from EGP18, saying strongerـthanـexpected revenues and earnings before interest, tax, depreciation and amortization margins reported by the firm for this year so far were sustainable, Reuters has reported. 'We think Telecom Egypt's financial performance in 2009 is close to its estimated 2010 peak on our forecasts,' the bank has said.
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StaffThursday, September 10 - 2009 at 11:55 UAE local time (GMT+4)
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