UAE's Du Revised to Neutral as United Securities Notes Q2 Results

05:07 AM EDT, 07/27/2026 (MT Newswires) -- United Securities LLC on Sunday revised its rating on Emirates Integrated Telecommunications Co. (DFM:DU), d/b/a du, as it took note of the company's "steady" results in the second quarter. "DU continues to deliver steady operating performance despite headwinds from ongoing geopolitical tensions in the region, with 2Q26 results broadly in line with our expectations. While management has marginally lowered its revenue growth guidance, we believe the impact will be limited and is largely reflected in our forecasts. Accordingly, we maintain our target price of AED 11.0 per share. However, with the stock trading at 16x our 2027e EPS, we see limited upside from current levels and therefore downgrade our rating to Neutral," analysts said in a note. Thanks to stronger-than-expected EBITDA margins, the telecommunications company posted a 9.8% annual increase in its net income to 798 million Emirati dirhams, exceeding United Securities' estimate of 791 million dirhams. Meanwhile, revenue rose 4.6% year over year to 4.1 billion dirhams, which was marginally below the research firm's 4.2 billion-dirham forecast.