Sunday, Nov 27, 2011
0723 GMT [Zawya Dow Jones]--Rasmala cuts Aldar Properties target price to AED1.05, from AED1.30 previously; keeps its hold rating. Lowers target price as it cuts 2011-13 EPS forecasts by 19% on average. "Although we expect top line to gain momentum from deliveries at Al Raha, bottom line will remain under pressure due to the significant interest burden arising from outstanding debt of AED30 billion as of 3Q11." Expects debt repayments of about AED10 billion over the next 15 months to remain an overhang on the stock. Shares trade flat at AED0.99.
(nikhil.lohade@dowjones.com)
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
27-11-11 0723GMT
