Al Ahly Pharos

In today's Views: 

• Strategy | Another "pump and dump" trade is sweeping "flour milling firms" and another crash is imminent.
• DSCW | Volumes ramping up, margin recovery in sight
• CLHO | Delivering growth; accumulate the stock

In today's views

• Strategy | A burst of the "land reclamation bubble" should not impact fundamentally-solid stocks
• POUL | Broiler prices remain low for the second months in a row but that does not alter our positive view on POUL
• MCRO | Early turnaround signs, waiting for 3Q catalyst
• ISPH | UPA dues unlock FCF; Overweight your positions
• ABUK | 10% dividend yield on resilient FY24/25

• Strategy | Five inflation prints and three MPC meetings left until end of 2025. What to expect? 
• ELEC | 2Q25 weak as expected; growth projects and lower rates underpin outlook
• ABUK | Sector catalyst: potential shift to cash subsidies
• BMIC | El Ashry raises offer, valuation in line with peers

• In today's views
  • Strategy | TALM may be amongst the top performers within defensives over the coming 16 months
  • EGCH | FY24/25 results: strong core performance, but valuation stretched
  • MCRO | Recovery story with strategic optionality 

• Strategy | Five market moving events will likely drive the index towards the 40k mark by end 2025/early 2026
• ORAS | Another solid quarter, backlog growth supports outlook
• EFIC | 1H25 results show significant margin pressure, 3Q25 outlook remains challenging
• CSAG | FY24/25 results resilient; discount to ALCN offers upside opportunity; DCCC revaluation adds further upside
• ACRO | Voluntary delisting: exit price screens modest versus fundamentals
• EKHO | Delta insurance exit gains ECA approval, unlocking c. EGP2.5 billion