FAB Revises Emaar Development Price Target Post-Q2 Earnings

MT Newswires · 2d ago
02:39 AM EDT, 08/18/2026 (MT Newswires) -- FAB Securities updated its price target for Emaar Development (DFM:EMAARDEV) following the company's second-quarter results. "We maintain our rating on Emaar Development to BUY with a revised target price of AED 18.00. Despite lower quarterly property sales, the Company maintained strong revenue visibility, with revenue backlog reaching AED 127.7 Bn as of 2Q26, to be recognised over the next four to five years. This backlog is supported by c. 51,400 residential units under construction. The Company's property sales stood at AED 22.4 Bn in 1H26, reflecting a moderation amid regional geopolitical uncertainty," analysts wrote in a Tuesday note. Thanks to a "substantial" increase in revenue, the real estate developer logged a 43.6% yearly rise in attributable net profit to 2.64 billion Emirati dirhams, in line with FAB's 2.59 billion-dirham forecast. Revenue grew 32.1% year over year to 6.48 billion dirhams, compared with the research firm's estimate of 6.58 billion dirhams. The stock's price target stood at 21 dirhams as of Feb. 19, according to FAB's website.