Today’s Trading Playbook
Amr Hussein Elalfy CFA | Head of Research
KEY THEMES
In our STANDPoint note early February, we have picked five sectors as our favorite, namely banks, non-banking financials, health care, industrials (construction), and telecom services. While we are neutral on the real estate sector, we recently published our Core Coverage Report on Al-Shams Housing & Development [ELSH] which we had included as one of our 20 long ideas. Elsewhere in the real estate sector, Madinet Nasr Housing & Development [MNHD] and Heliopolis Housing & Development [HELI] could be back in focus in the market in view of news that MNHD is interested in partnering with HELI to develop part of the latter’s Heliopark project.
positive
ELSH, EMFD, MNHD, HELI: We are positive on ELSH as one of our two real estate stock picks, the other being Emaar Misr for Development [EMFD]. Yet, we think MNHD and HELI could re-rate in view of the former’s strong set of financials in 2020 and the latter’s move to monetize its land bank.
Now, on to the top news and analysis for the day.