1H 2025 Financial Results Valuation update for JSC NAC Kazatomprom following the 1H 2025 financial results. Based on our model, we have raised the target price to $52 per share, implying a 16% potential upside from the current market price, with a “Buy
KEGOC: 6M 2025 ResultsKEGOC JSC (hereinafter referred to as the “Company”) published its operating results for the first six months of 2025. We maintain our target price for one common share at KZT 1,778, with a BUY recommendation
Update on JSC “National Company KazMunayGas” Valuation for 1H 2025. Based on our model, the target price per share has been revised upward to ₸19,397. KazMunayGas shares are trading at fair value levels. Recommendation: Hold
Equity research update of JSC Kaspi.kz following 1H 2025 Results Based on our model, we have updated the target price per share to KZT 57,922, implying a potential upside of 14% from the current market price, with a “Buy” recommendation
A revaluation of JSC “Air Astana” has been carried out based on the financial statements for the first half of 2025. According to our valuation model, the target price of the share is set at 6,32 $/GDR, which represents a 12,4% upside from the current