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Power Sector Report
murchr
#1 Posted : Friday, August 23, 2013 5:00:26 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
D&B wrote:
KPLC - TP 12.90 downside 10% Sell

Kengen Hold - on account of prevailing
tariff limitations to cost effective operations and capacity investments.

Umeme Buy - Upside 8% Buy on account of strong Concession safeguards that curb against negative regulatory actions and political interference.


http://www.dyerandblairo...0Report_230813_Final.pdf
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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sorovi
#2 Posted : Friday, August 23, 2013 6:42:00 PM
Rank: Member


Joined: 8/3/2007
Posts: 146
KenGen: We initiate coverage on Kenya Electricity Generating Company (KenGen) with a BUY recommendation. Based on our EV/EBITDA valuation we arrive at a price target of KES 21.70 which represents an 35.2% upside from the current share price of KES 16.05 (17.06.2013).

Kenya Power: We initiate coverage on Kenya Power with a NEUTRAL recommendation. Based on our EV/EBITDA valuation we arrive at a price target of KES 14.72 which represents an 5.2% downside from the current share price of KES 15.50 (17.06.2013).


Faida Inv Bank Power Sector Coverage June 2013
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