Reuters reported that Orascom Construction Industries faces potential delays in project tendering in the immediate future due to the recent unrest in Egypt and cut its price target on the building and fertilizer giant's stock.

UBS said that Orascom Construction's long term gas supply contracts in Egypt and Algeria are also at risk of being reviewed, given the political changes in Egypt, and this could hurt the company's fertilizer segment margins.

The brokerage however expects the segment to benefit from strong pricing and new capacity. The brokerage cut its price target on Orascom Construction stock to EGP 264.20 from EGP 291.40 but maintained its neutral rating.

(Sourced from Reuters)