FAB Tweaks Emirates NBD Rating, Price Target After Q2 Results

06:58 AM EDT, 07/27/2026 (MT Newswires) -- FAB Securities updated its investment recommendation on Emirates NBD Bank (DFM:EMIRATESNBD) following the release of the bank's second-quarter financial statements. "We revise our rating from ACCUMULATE to BUY on ENBD with a revised target price of AED 35.50 (Based on our 2Q26 Preview Note). ENBD delivered a resilient 2Q26 performance supported by strong balance sheet growth, diversified non-funded income and a healthy capital and liquidity position, reinforcing the strength of its diversified business model," analysts wrote in a Monday note. The research firm said the lender's attributable net profit of 6.42 billion Emirati dirhams was higher than its forecast of 6.01 billion dirhams. Net funded income for the reporting quarter was 9.54 billion dirhams, compared with FAB's estimate of 10.12 billion dirhams. "ENBD's strong franchise, healthy capital position, resilient profitability and improving geographic diversification are expected to provide sustained earnings growth in 2026 despite a moderating interest rate environment," analysts said. According to the research firm's website, the stock's price target was 33.50 dirhams as of April 24.