Al Ahly Pharos

In today's views

• Strategy | EFID versus ADIB. A valuation anomaly that deserves attention
• MACRO | August inflation print is perfectly in line with expectations, maintaining our bias towards further easing till year-end
• OLFI | More than just another feta company
   FERC | Trading opens at IFA FV of EGP45.6/share, but pre session bids are pushing the stock towards our FV estimate of EGP72/share
• EFIC | Initiation of coverage: EFIC for value, ICFC for arbitrage

In today's Pre-Session Views:

• Strategy | OIH stock is on fire and it is not another "pump and dump" trade. It is a quasi SPAC
• CPME| Insights from Our Roundtable with CPME
• EGCH | OGM to discuss potential sale of ABUK stake
• ORAS | Modon’s Ras El Hekma tender, an opportunity for Egyptian contractors 

• Strategy | Short carbs, long protein
• ETEL | Helios Investments binding offer to acquire a majority stake in RDH confirms deleveraging path and reinforces our positive outlook going forward
• SKPC | Price cut to hit margin, yet higher volumes may offset

• Strategy | What are corporate CEOs doing to trigger the next leg up? 
• EGAL | MoU with Alba marks step toward vertical integration and margin stability 

In today's Pre-Session Views:

• Strategy | Alert to unsuspecting retail investors: Do not buy into the small cap frenzy
• ETEL’s inflection year | Peak capex behind and deleveraging ahead; position for a structural rebound in FCF
• ABUK | Valuation dislocation versus peers and replacement economics
• PHDC | Does PHDC generate positive operating cash flows?
• ISPH | Distributor model best positioned amid pharma price reform++6322