NBK Capital Defines OW Fair Value at EGP 30.2, Recommends ‘Buy’

NBK Capital issued a report on Oriental Weavers (OW) (ORWE.CA), defining the stock’s fair value at EGP 30.20, 50% up, compared to its market price of EGP 20.15 and recommending a “Buy”.

NBK added that OW’s financial results for the first half of 2012 came slightly less than expected posting a net profit  of EGP 145.405 million, 0.6% up from its H1/2011 net profit of EGP 144.551 million.

Worth mentioning, OT consolidated financial results for H1/2011 revealed a net profit of EGP 145.403 million, 0.6% higher than its year earlier profits.