Macro Analysis /
Global

Pakistan Strategy 2022: Dark Horse

  • Pakistan market enters 2022 at near-trough valuations; interest rates are close to peak & flows will be supportive

  • 5 themes for 2022: favor high DY, rural income is thriving, energy sector reforms to continue, exports, & focus on ROEs

  • Our top picks: HBL, MEBL, POL, ENGRO, SYS, ILP, GATM, LUCK, TGL, INDU, PSO, SEARL

IMS Research Team
Contributors
Rahul Hans
Yusra Beg
Saad Ali
Intermarket Securities
21 December 2021