Category Archive for "Latest Releases"

Total Maroc: The crossing of a new earnings level

The FY 2016 achievements of Total Maroc reinforce our positive opinion on the stock. The attached publication summarizes our analysis.   Total Maroc- The crossing of a new earnings level

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Marsa Maroc- FY 2016 Achievements

The FY 2016 achievements of Marsa Maroc reinforce our positive opinion on the stock. The attached publication summarizes our analysis.   Marsa Maroc- Achievements in line with our foecasts

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2017, the suitable year for equity investment

The main learning which can be drawn from year 2016 is the importance of not being dominated by “neutrality” towards the Equity market. Indeed, the Moroccan stock market was particularly persistent during its recovery launched in January 2016, with a

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Cosumar- Upward revision of earning forecast

Dear readers ; The recent refined sugar exports figures published by the foreign exchange office (Office des Changes) led us to revise our Cosumar Group’s growth forecasts for FY 2016. Under these conditions, Cosumar Group’s profitability for FY 2016 would

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Addoha Group: The positive impact of deleveraging

The achievements of Addoha Group for Q3-2016 confirm our positive opinion on the real estate sector in general and on Addoha stock in particular. To this end, we reiterate our BUY investment opinion with a target price of MAD 52.0, i.e. an upside potential

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Equity strategy: Towards an improvement of risk appetite

Dear readers,   In our recent Equity report, we outlined a scenario in which the next recovery of the Moroccan stock market would be drived by animprovement of investors risk appetite. This concept is discussed in details in this report.   At the end,

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