Share brokerage Company and the Bank Morgan Stanley believes that real estate firm Sobha Developers share price will rise in absolute terms over the next 30 days as short term valuation has turned much more compelling due to recent under performance versus the benchmark index.
Morgan Stanley said in a note on 24-11-2011 "The Sobha Developers share is trading at a 55% discount to NAV (Net Asset Value) 1.1 times FY 2011-12 expected price to book and 11 times FY2011-12 expected earnings. We estimate that there is nearly an 80% plus or "highly likely" probability for the scenario,"
The Morgan Stanley said that the Sobha Developers is on course to achieve its full-year target of 3-3.5 million square feet of new sales.
Review by Morgan Stanley
Morgan Stanley said in a note on 24-11-2011 "The Sobha Developers share is trading at a 55% discount to NAV (Net Asset Value) 1.1 times FY 2011-12 expected price to book and 11 times FY2011-12 expected earnings. We estimate that there is nearly an 80% plus or "highly likely" probability for the scenario,"
The Morgan Stanley said that the Sobha Developers is on course to achieve its full-year target of 3-3.5 million square feet of new sales.
Review by Morgan Stanley
