FAB Revises Parkin Co Rating to Buy Post-Q2 Results

02:20 AM EDT, 08/26/2026 (MT Newswires) -- FAB Securities updated its rating for Parkin Co (DFM:PARKIN) to buy from hold, with the price target of 6.50 Emirati dirhams unchanged, following the company's second-quarter earnings. "Parkin reported strong profitability growth in 2Q26, supported by seasonal cards, developer parking, and enforcement segments, partially offset by public parking segment. However, Parkin recorded 2.4% YOY growth in parking transactions in 2Q26, with total parking volumes of 34.0 Mn in 2Q26 compared to 33.2 Mn in 2Q25. The steady performance in transaction volumes was primarily driven by a marginal decline in Public Parking transactions to 27.2 Mn in 2Q26 from 29.2 Mn in 2Q25, due to geopolitical factors, increased use of seasonal cards at unchanged tariffs, and slightly fewer chargeable days during the quarter," analysts said in a Tuesday note. The parking facilities and services company logged a 12% annual increase in second-quarter net profit to 166 million dirhams, lower than FAB's forecast of 198 million dirhams. Revenue also rose 13.6% year over year to 360 million dirhams, compared with the research firm's 387 million-dirham estimate. "For 2026, Parkin lowered its public parking revenue guidance to AED 510-550 Mn from AED 560-610 Mn, primarily due to the timing and ramp-up of new spaces and continued seasonal card adoption. This was offset by higher guidance for seasonal card revenue at AED 280-300 Mn and developer parking revenue at AED 130-150 Mn, while enforcement guidance remained unchanged at AED 420-460 Mn in 2026," analysts added.