Adnoc Distribution Kept at Buy as United Securities Notes Q2 Results

06:19 AM EDT, 08/07/2026 (MT Newswires) -- United Securities LLC maintained its buy rating on Abu Dhabi National Oil Co. for Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, as analysts took note of the company's second-quarter results. The United Arab Emirates-based fuel and convenience retailer reported 13.20 billion Emirati dirhams in revenue, surpassing the research firm's expectations by 27%, according to a Thursday note. The company's net profit was 1.34 billion Emirati dirhams for the quarter ended June 30, reflecting a 94.9% year-over-year growth. "Following the stronger-than-expected results, we have revised our 2026e revenue and net profit forecasts upward to AED 41.44bn and AED3.93bn, respectively. We acknowledge that the exceptionally strong revenue growth was supported by elevated fuel prices and unusually high inventory gains and believe both of which are unlikely to be sustainable over the long term. However, ... we believe the company's structural growth drivers remain firmly intact and hence we raise our price target to AED 4.79/share which provides an upside of 17.6% from current levels," analysts said.