Eastern Company (EAST) has delivered an overall weak set of results in Q3 FY2018/19. Sluggish revenue growth, higher operational costs, and lower interest income heavily affected EAST’s earnings and margins during the quarter. However the results were somehow expected; hence we maintain our 12M PT at EGP20.65/share but we upgrade our rating to Overweight / Moderate Risk in light of the recent drop in the stock price.
For more details, please read the full report below.