maka wrote:Lets put a wager on that...it wont make it to 4.40 ex div.
Might be forced to eat your words.
In late April 2012, a local analyst wrote as below (C&P):
We maintain SELL at TP Ksh2.70
The share price has increased by c.12.5% from the lows of Ksh2.80 late last year underpinned by an improved macro outlook, in our view. We believe an outdated (Sept 2011) CCK report released in January showing improved market share and parts of the market expecting a special dividend are now priced in. We however focus on the medium term where slowing service revenues, an increasing cost environment and possible MTR cuts could slow EPS growth. Safaricom trades at FY13e PE of 12.6x, which is 21% higher than our peer average PE multiple of 9.6x
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