Al Ahly Pharos

Market Overview 

prepared by: Mayada Amin- CETA, CFTe 

In today's Pre-Session Views:

• Strategy| Gauges of macro risk are not raising red flags yet
• DSCW| What did Management tell us ? 
• MCQE| valuation update

Market Overview 

Prepared by: Mayada Amin- CETA, CFTe 

• Strategy| DSCW stock showcases the strength of its embedded hedges in Black Sunday
• GBCO management call| Adding the stock as the 11th opportunity
• ABUK| Cheap on a status quo basis, but the "status quo" itself is being challenged
• HRHO| HRHO sheds more than just dividends: Accumulate below EGP25/share 

Market Overview 

prepared by: Mohamed Othman- CETA, CFTe

• Strategy| If India-Pakistan 4-day war is any guide, the market sell-off should be short-lived
• COMI| Post call with management, CIB is poised to rally once geopolitical risk subsides
• EKHO, ABUK, MFPC| If sustained, crude oil surge could fuel a urea price rally, benefiting EKHO, ABUK, and MFPC
• CSAG| Suez Canal Recovery Derails Amid Escalating Tensions: keep cautious of CSAG 
• HRHO| HRHO Goes Ex-Div — ValU Carve-Out Creates Potential Buy-the-Dip Opportunity 

- Market Overview 

- HRHO

- GBCO

- EMFD

- EGAL

- DSCW

- Prepared by: Mayada Amin- CETA, CFTe 

• Strategy| Trump says deal with China is "done" and we say EGAL journey to EGP200/share is just getting started
• CSAG| CSAG crosses our FV target and time is ripe for a trim
• VALU| VALU’s fair value based on fundamentals but don’t mistake market momentum for more
• EKHO| Offer for Delta Insurance at EGP 40/share acts as key catalyst for divestment thesis
• MTIE over BINV| Long what’s ahead, hold what’s priced in 
• MCQE| Updated Fair Value Highlights Compelling Opportunity

- Market Overview 

- GBCO

- EGAL

- ORAS

- ORWE

- ORHD

- Prepared by: Mayada Amin- CETA. CFTe