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United Securities Keeps Abu Dhabi Commercial Bank Rating, Price Target After Q2 Net Income Beat

MT Newswires·07/29/2026 03:41:09
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03:41 AM EDT, 07/29/2026 (MT Newswires) -- United Securities LLC on Tuesday maintained its rating and price target on Abu Dhabi Commercial Bank (ADX:ADCB) after the lender's second-quarter results surpassed expectations. "ADCB continues to deliver results ahead of expectations, with net income growth exceeding 30% YoY for the second consecutive quarter. The 2Q26 earnings beat was primarily driven by lower provisioning, with the cost of risk remaining comfortably below management's 60bps guidance. We maintain our BUY rating and target price of AED 17.5 per share," analysts said in a note. For the second quarter, the lender's net income rose 32% annually, exceeding United Securities' estimates by 11%. Meanwhile, operating income rose 6% year over year, which missed the research firm's estimate by 2%.