Delta Holding: BKGR moves from “accumulating” to “buying”

BMCE Capital Global Research (BKGR) has changed, in its latest “Stock Guide”, its recommendation on the Delta Holding stock from “accumulate” to “buy”, assuming a target price of 33 dirhams, i.e. an upside of 33 .6% compared to last October 31.

“Given the strong resilience of the Group and its diversified portfolio, we recommend buying the stock in portfolios with a target price of 33 dirhams”, indicates BKGR in the recent update of its “Stock Guide” of the main Moroccan values.

On the outlook side, the Group should experience continued growth in its turnover in 2022, driven by a solid order book of 3.006 billion dirhams (MMDH) at the end of June 2022, representing 11 months of turnover, reports BKGR.

The Group should also experience continued growth, through the combined effect of the consolidation of the hydraulic activity by strengthening the drinking water supply networks and the continued strengthening of the parachemical activity by carrying out distribution networks for medical fluids in hospitals.

However, notes BKGR, the operating margin is expected to contract due to soaring raw material prices, combined with rising transport costs and increased ocean freight.


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