Arab Finance: Investments bank EFG Hermes has set the target price of Canal Shipping Agencies (CSAG) at EGP 25 per share with a "Neutral" stock rating, according to an emailed note on January 30^th.

"We expect recurring earnings to maintain their growth momentum shown during the previous quarter and reach EGP 55 million (+73% year-on-year) in 2Q23e," it said.

In FY 2021/2022, the company recorded a net profit after tax of EGP 185.54 million, compared to EGP 200.192 million in FY 2020/2021.

Canal Shipping is a subsidiary of the Holding Company for Maritime and Land Transport that provides marine port services and shipping services to international commercial fleets.

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