Aldar, Sorouh and UP Rated as ‘buy’

EFG Hermes maintained its “buy” rating for Sorouh Real Estate and raised its target price to Dh14.3, a hefty upside over its closing price of Dh3.43 last Monday.

It downgraded top-ranked Aldar Properties to “accumulate” from “buy” in the short-term with a target price of Dh23.8. The stock last traded at Dh5.40.

Recommended For You

38-year-old Dubai resident dies while playing cricket; parents fly in for burial

Trump says peace deal with Iran 'all signed'; Hormuz to be toll-free for 60 days

Trump warns 'all hell will break out' if Iran tries to get nuclear weapon

UAE President thanks Trump for continued support during Iran war at G7 summit

Iran FM says talks on final agreement with US 'likely' to start Friday

 

Aldar will feel the pain of its capital intensive strategy but eventually, will have a very high free cash flow generation and create significant value, said EFG Hermes.

Union Properties is still rated a “long-term buy” but was rated “neutral” for the short-term with a target price of Dh4.3. It last traded at Dh1.07.

“Union Properties' stable income stream and the limited execution risk associated with its current project pipeline suggest that should the Dubai market take a turn for the worse, it can still generate healthy profits.”

· rocel@khaleejtimes.com