Equity Analysis /
Pakistan

Pakistan Textiles: Positives are entrenched; reiterate our OW stance

  • We upgrade our IMS Textiles Universe estimates by an average c30% amid robust demand and capacity enhancements

  • The sharp rise in exports FY22td, likely to be sustained, while continued incentives cement our liking for the sector

  • We maintain our Overweight stance on the sector, while preferring ILP (TP of PKR115/sh) and GATM (TP of PKR70/sh)

Abdul Ghani Mianoor
Intermarket Securities
7 December 2021