<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We initiate coverage with a “BUY” stance on PTL with a
Jun-25 target price of PKR 54.34, indicating a potential upside of 48%. Along with
capital gain the stock also offers a dividend yield of 13% bringing its total
expected return to 61%.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The company is in the business of selling tyres for
motorcycles, 3 wheelers, trucks, tractors and earth moving vehicles.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Motorcycle sales per million population appears to be
directly correlated to changes in GDP per Capita, however we can see this
assumption losing its significance in cases where GDP per Cap...
