DPW gets 'buy' rating from Shuaa on expansion plans

DUBAI — DP World Ltd., the port operator that raised $4.96 billion in the Middle East's biggest share sale, was recommended as 'buy' in new coverage by Dubai-based Shuaa Capital PSC.

By (Bloomberg)

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Published: Tue 8 Jan 2008, 9:15 AM

Last updated: Sun 5 Apr 2015, 12:28 PM

Analysts at the United Arab Emirates biggest investment bank, including Kareem Murad, set a price estimate of $1.47 for the shares, 21.5 per cent higher than yesterday's close of $1.21. Shuaa's recommendation cited DP World's expansion plans that will 'almost double total gross capacity' over the next decade.

DP World is more diversified than rival operators helping it to achieve better capacity utilisation and higher yields, Murad wrote in the report received by e-mail yesterday.

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