FAB Reiterates Buy Rating on Dubai Financial Market PJSC Post-Q3 Results

04:48 AM EST, 11/06/2026 (MT Newswires) -- FAB Securities affirmed its investment view on Dubai Financial Market PJSC (DFM:DFM) after the bourse operator published its third-quarter results. "We maintain our BUY rating with a target price of AED 2.00. DFM recorded a decline in net profit in 3Q26, reflecting lower trading commission fees and clearing, settlement & depository fees, coupled with higher G&A expenses and lower dividend income, partially offset by higher investment income and finance income, along with lower tax expenses and a lower share of profit attributable to non-controlling interest," according to a first look note published Friday. DFM logged a net profit of 130 million Emirati dirhams for the quarter, down 4.3% year over year and against FAB's forecast of 137 million dirhams. Operating income fell 11.7% to 126 million dirhams, compared with the research firm's estimate of 130 million dirhams. "The Company highlighted the return of institutional investors since late September 2026 and expects one deferred IPO to list in early October 2026, while remaining optimistic about the 2027 IPO pipeline and the upcoming launch of the ARENA growth market platform. Looking ahead, DFM continues to prioritise enhancing market liquidity, expanding investor access and strengthening market infrastructure and product offerings to support the continued development of Dubai's capital markets," analysts said.