ArabFinance: Ostoul Research raised the fair value (FV) of Abu Qir Fertilizers (ABUK) to EGP 29.2 per share, which yields a 35.8% above the last closing price of EGP 21.5 per share, according to a recent report.

Raising the FV reflects the recovery in global urea demand, low exports from china, increasing natural gas and grain prices, and lower expected global urea capacity additions tightening the gap between supply and demand, supporting higher urea price levels.

The listed company reported a 3.6% Year on Year rise in its net profit in the second half of 2020, recording EGP 1.49 billion.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products.

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