Al Ahly Pharos

• Strategy | KSA-based Tabby recent secondary share sale casts in stone GBCO status as 2026 top pick
• FWRY | A high-conviction exposure to signals of renewed foreign flows in EGX
• VALU | A top pick leveraging consumer segment exposure
• MTIE | MTIE’s Edge/Basata agreement| Our view: replicating FWRY’s MSME model could unlock hidden value in Basata Microfinance
• TMGH | GEM’s opening raises Cairo and Giza hotels’ occupancy to 100% and room rates by 400%
• DSCW | Egypt’s textile exports up 24% during 9M25; DSCW maintains strong export momentum
• ORWE | Management lowers 2025 guidance amid softer 2H recovery
• CCAP | ERC margin contraction and Dina Farms losses drive consolidated net loss
• EFIC | Standalone revenue up 21%, but sulfur costs hit profits
• ABUK | Solid margins sustain earnings; 2H guidance points to recovery

In today's Pre-Session Views:

• Strategy | AMIA is on a tear and ATLC will likely catch up before end of 1Q26
• CIEB| Despite sluggish performance, stock offers 15% dividend yield
• AMOC | Revenue grows, but margins contract in 1QFY25/26
• MBSC | 3Q25 volumes modestly rebound; 2025e net profit of EGP2 billion hinges on 4Q25 performance
• OLFI | Management reaffirms growth plans; BUY rating maintained

In today's Pre-Session Views:

• Strategy | An easy-to-use valuation metric shows that ORAS path to the EGP600/share level is fairly smooth
• BTFH | CBE penalty on FAB-MISR can pull BTFH stock down by 10% at least
• AMOC | MIDOR deal aims to mitigate domestic pricing pressure
• SUGR | Weak quarter amid oversupply; limited catalysts ahead
• JUFO | 3Q25 steady; 4Q to lead earnings recovery as repricing flows through

In today's views

• Strategy | Exposure to New Cairo office space puts ACTF and BONY on the radar screen until year-end
• EGAL | 1Q25/26 results miss estimates on margin squeeze despite resilient pricing backdrop
• AMOC, CCAP | Refining margins get a boost as Diesel-HSFO spread widens

In today's views

• Strategy | Exports push ISMQ stock price to a record high and US-China deal may sustain the momentum in 2026
• EFIH | GEM’s opening and Egypt’s tourism-fiscal themes can’t be ignored — we add EFIH to our high-conviction list
• ISPH | 3Q25 expectations: steady progress toward a breakout year in 2026
• OLFI | 3Q25 expectations, resilient quarter, catalyst ahead