BofA Upgrades First Abu Dhabi Bank to Buy on Resilient Returns -- Market Talk
Dow Jones2026/08/26 13:441344 GMT - Bank of America upgrades First Abu Dhabi Bank to buy from neutral, saying the lender's earnings growth and return potential aren't reflected in its current valuation. BofA expects about 8% compound annual EPS growth through 2028 and return on tangible equity of 17%-18%, supported by government-related lending, funding strength, pricing discipline and fee-income growth. It raises its price objective 10% to AED23.20, implying around 18% upside. Geopolitical risk remains the main swing factor, but First Abu Dhabi Bank's domestic franchise, sovereign-linked activity and balance-sheet strength provide buffers, BofA says.([email protected])
(END) Dow Jones Newswires
August 26, 2026 09:44 ET (13:44 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Labcorp Reaffirms Long-Term Earnings Outlook
Dolphin Entertainment CEO William O’Dowd IV buys USD 4,850 in common shares
BHP’s Escondida mine supervisors say collective contract deal far off
Plutonian Acquisition II agrees to buy Australia’s NT1 in USD 500 million share deal
Crypto prices
More
