BAHL has posted 2QCY22 EPS of PKR4.19, flat YoY and lower by 6% QoQ
Strong Fx gains of PKR2.5bn have led to earnings beat
Earnings can grow quickly in the near-term as the higher interest rate environment persists, Buy!
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The analyst certifies that the views expressed in the report reflect their personal views about the subject securities. He or she also certifies that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendations made in this report. He or she further certifies that they do not have any beneficial holding of the specific securities that they have recommendations on in this report.
Valuation Methodology: We use multiple valuation methodologies in arriving at a Target Price including, but not limited to, Discounted Cash Flow (DCF), Dividend Discount Model (DDM) and relative multiples based valuations.
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