Lowered opinion on Gulf Finance House BSC

A major Wall Street broker, no names but their logo is bull, has just downgraded Gulf Finance House in Bahrain. EPS growth for this year will be 33%. Bahrain is a oil economy. Gulf Finance House has an ROE of 47.9. It also has a a good free float (54%) and a decent market capitalization despite its single digit P/E. Sorry, but we just don' buy this one ;)