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Emaar rated 'overweight' at Morgan Stanley
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed July 28, 2010 12:47 pm
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INTERNATIONAL. Dubai-based Emaar Properties, a global property developer with a significant presence in key markets worldwide, was rated “overweight” in new coverage at Morgan Stanley, citing “cheap” valuation.

“Emaar offers strong recurring revenue through malls and hotels in Dubai, and exposure to non-U.A.E. property markets,” Morgan Stanley said in a note to clients today.

Morgan Stanley has a share-price estimate for Emaar of AED4.3. The shares gained 1.87% to AED3.27 at 12.22am in Dubai.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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