Jun 23 2011 |
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MARKET TALK:HC Starts Omantel,Nawras At Overweight; Superior Margins
Thursday, Jun 23, 2011
0744 GMT [Zawya Dow Jones]--HC Securities initiates coverage on Omantel with an overweight rating and target price of OMR1.47. Starts Nawras also at overweight rating; target price OMR0.86. Says both telcos trade at discounts to peers. "On Ebitda margin, Omantel and Nawras trade at even higher discounts to peers, which implies that the market is not fully pricing in their superior margins." Forecasts a 2011-15 revenue growth CAGR of 1.2% for the market, driven by the wholesale and fixed line segments. (nikhil.lohade@dowjones.com)
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
23-06-11 0744GMT
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