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Economy: Commodity reversion to catalyze PSX – By Insight Research

  • By: Insight Securities (Private) Limited

  • - Published: Friday, 17 December 2021
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<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We expect KSE100 to reach 55,000 in CY22 (using justified P/E and TP mapping methodology), depicting a double-digit return of ~24%. Currently, ISL universe is trading at a multi-year discount to the historical averages. We believe that worries relating to interest rate, inflation and external positions have been overplayed and expected to peak out soon. Fundamentally speaking, despite macro uncertainty, our universe is set to post a turnaround in profitability wherein Banking and Cement sectors are likely to post a growth of over 30% in CY22, likewise ISL universe profitability is estimated to grow by 14%.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Our investment thesis hinges on the assumption that the on...

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