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Credit Suisse UAE bank ratings

 
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ixtira
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Joined: 11 May 2009
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Credit Suisse UAE bank ratings

Posted on Fri 29 Jan 2010 08:33 by ixtira 		Reply with quote
Fair Values for Major UAE banks issued by Credit Suisse on 25-27th Jan 2010

Current / Fair / Potential Upside%

Emirates NBD - 2.45 / 6.1 / 149% Very Happy

UNB - 2.82 / 5.6 / 98.6% Very Happy

ADCB - 1.48 / 2.4 / 62.2% Very Happy

DIB - 2.06 / 3.33 / 61.7% Very Happy

NBAD – 11.2 / 16.3 / 44% Smile

First Gulf Bank – 15.3 / 22.5 / 40.5% Smile




Last edited by ixtira on Fri 29 Jan 2010 11:04; edited 2 times in total
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ixtira
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Posted on Fri 29 Jan 2010 08:54 by ixtira 		Reply with quote
I find it bizarre that Credit Suisse gave Union Properties a faire value of 0.03AED (Downside of 95%) and then on the same day gave EmiratesNDB a fair value of 6.1AED (upside of 149%).

EmiratesNBD own 48% of UPP so I would expect a collapse in UPP’s Shareholder value to badly effect ENBD's shareprice.
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sam111sam
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Posted on Fri 29 Jan 2010 10:58 by sam111sam 		Reply with quote
ixtira wrote:
I find it bizarre that Credit Suisse gave Union Properties a faire value of 0.03AED (Downside of 95%) and then on the same day gave EmiratesNDB a fair value of 6.1AED (upside of 149%). ...


May be someone have finished accumulation on ENBD Wink

Did you see my post yesterday on ENBD showing signs of reversal ?...
Now also the candle pattern shows a "Buy If". Then comes this report.
Makes me think: Could this be a coincidence ?

So, I guess that we can see a nice party ..Specially if the 4Q results would not be in the red.

UNB did show the same reversal sign a day earlier...Already up now from 2.7 to 2.96 in 3 days

Many shares prices are really depressed, but banks shares among the best because you can trust their books..Unlike most other companies
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ixtira
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Posted on Fri 29 Jan 2010 11:20 by ixtira 		Reply with quote
sam111sam – I agree with you, somethings “Brewing” … the report was issued on the 25th Jan and was probably influencing market by the time you made your post on the 28th
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