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NBK sets Etisalat FV at AED 14, recommends 'buy'

NBK sets Etisalat FV at AED 14, recommends 'buy'
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ETISALAT
0.33% 18.32 0.06
NBK Capital MENA Research raised its fair value (FV) of Etisalat’s share by two percent to AED 14 and with a recommendation of “buy”.

The Kuwait-based research company asserted in a statement to Mubasher that its share valuation was based on the Etisalat’s positive first quarter results and following its acquisition of Vivendi’s 53% stake in Maroc Telecom.

NBK Capital expects a rise in Etisalat’s revenues in Q2-14, reaching AED 10.118 billion, whereas it expects Etisalat’s net profit to amount to AED 1.97 billion.