Aramex (ARMX)

by Shabbar H. Kothari, Aamir H. Kothari

Price
AED 4.13
Fair Value
Estimate
AED 4.1 to 4.5
Uncertainty
High
Enterprise
Value
AED 6.7bn
Consider
Buy
AED 3 to 3.4
Economic Moat
None
Stewardship
Rating
Standard
Market Cap
AED 5.9bn

Recommendation

At AED 4.13, ARMX is fairly priced and we recommend a NO-BUY.

Even upon assuming a 9% y-o-y growth in revenues for the next five years, this is an unremarkable albeit well-run business and we would not recommend buying unless a significant mispricing occurs.

For full report, see link below

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