Dubai-Mubasher: NBK Capital maintained Etisalat’s fair value at AED 15.9 with 1.3% or AED 0.20 upside potential to the current market price of AED 15.7.
The financial services firm also kept its “Hold” recommendation on Etisalat, according to a recent report.
NBK Capital’s recommendation followed news that Etisalat is talking to banks about raising a $2 billion loan for three years.
As a result, the stock rose 0.32% after trading 590,140 shares with turnover reaching AED 9.3 million.
The telecom operator accounted for 7% of the market share with subscribers reaching 11.6 million.
