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Vodafone Qatar

Source: Rasmala Investment Co. (RASMALA)

Monopoly break

We initiate on Vodafone Qatar with a Hold rating and 12-month target price of QR9.54 per share. To arrive at our target price, we have used a three-stage DCF model because the company is still in its start-up phase of operations.

Valuation summary
We initiate coverage of Vodafone Qatar with a Hold rating and 12-month target price of QR9.54 per share. To arrive at our target price, we have used a three-stage DCF model because the company is still in its start-up phase of operations.

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