We initiate coverage on Interloop Limited (ILP), Pakistan's second largest textile exporter and one of the world's leading socks producer with a Buy rating. At our Target Price of Rs100, the stock offers ~40% upside from current levels. Our Buy rating for the stock is premised on: - Continued strong revenue momentum - Revenue growth - Stable margins - Favorable positioning on financial charges Trading at FY25E P/E of 5x and PEG of 0.3x (based on 5-yr earnings CAGR of 16%), we believe stock offer

#WATCH: Interloop, Pakistan’s leading textile exporter for brands like Nike, Adidas & H&M, is investing $35M in a new hosiery plant in Egypt’s Suez Canal Zone to expand exports to the US, Europe, Africa & Gulf markets. Read more: https://arab.news/vxhn9 | Arab News Pakistan

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