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UAE stocks top GCC picks for 2010

Country's firms dominate top 10 lists of bankers and analysts. More than 20% returns expected. (REUTERS)

By Sreenivasa Rao Dasari

Fundamentally strong UAE-listed companies figure prominently on several lists of the top 10 stock picks for 2010 from the GCC.

Emirates Business asked a cross section of investment bankers and equity research analysts to pick their top 10 performing stocks for this year and all that make the list have been estimated to offer more than 20 per cent annual returns. Most offer growth potential in the range of 86.72 per cent (Arabtec) to 44.88 per cent (Emaar Properties).

Despite the prevailing uncertainty among investors and institutions and the global investment climate, the UAE stocks continue to remain dependable bets, said most analysts.

Six UAE-based firms figured in the model portfolio on GCC markets for 2010 prepared by Credit Suisse. Based on the performance of 16 companies from the region, the model portfolio includes DFM, Arabtec, FGB, UNB, Aldar and Sorouh from the UAE.

Al Dhafra Financial Broker has listed Arabtec, Air Arabia, Aramex, Dubai Islamic Bank, Emaar, DSI, Aabar, etisalat, Aldar and Sorouh. Al Mal Capital's focus list of 2010 includes Aabar, Agthia, Aldar, DSI, etisalat and National Bank of Abu Dhabi. MAC Capital Advisors' top 10 for 2010 includes Air Arabia, Aldar, Aramex, Arabtec, Aabar, Agthia, du, Dana Gas, DP World and NBAD.

Al Ramz Securities has picked its top five for 2010, which are DSI, Agthia, NBAD, etisalat and Emaar.

Vyas Jayabhanu, Head of Al Dhafra Financial Broker, said: "Every stock has the capacity to grow 25 per cent on average this year."


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