Abu Dhabi-Mubasher: Global Investment House cut the fair value (FV) of Abu Dhabi Commercial Bank (ADCB) to AED 7.9, which is 18% higher than its AED 6.69 market price, according to a report.
Global maintained “Buy” recommendation on ADCB.
The investment firm’s valuation is mainly attributed to higher cost of equity.
On Tuesday morning, the bank’s stock declined 0.6% to AED 6.66, with turnover of AED 422,900 traded through 63,500 shares.
