Dubai – Mubasher: Shuaa Capital assigned a 'buy' recommendation on Abu Dhabi Commercial Bank (ADCB) and Emirates NBD, according to a report.
The targeted prices for ADCB and Emirate NBD are set at AED 7.80 and AED 10, respectively, the report indicated.
The ADCB is expected to benefit from higher lending rates after its loan portfolio significantly grew in the first half of 2016, the report indicated, highlighting that the bank currently focuses on the Dubai market that forms 30% of the aggregate loans.
Meanwhile, Emirate NBD is still having the lion shares in securing loans to start institutions and entities, the report revealed.
Moreover, the report put forward a 'Hold' recommendation on National Bank of Abu Dhabi, First Gulf, Union National Bank and Dubai Islamic Bank, setting their target prices at AED 9.50, AED 12.30, AED 4.60, and AED 5.80, correspondingly.
