Courtesy: Faida Investment Bank
Week Ending September 5, 2014
ARM
BUY
Our target price of KES 141.07 provides a 64.0% upside potential from the current market of (KES 86.00). With significant limestone deposits in East Africa and investment in integrated capacity, we see ARM as being well positioned to integrate vertically. This will come with significant market power which we expect to sustain growth in the future.
Pesa Nane plans to be shilingi when he grows up.