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EFG Hermes recommends “buy” for Air Arabia, FGB

EFG Hermes recommends “buy” for Air Arabia, FGB
Air Arabia
AIRARABIA
1.09% 2.78 0.03
FGB
FGB
-0.39% 12.90 -0.05
EFG Hermes has set the fair value (FV) for the UAE’s Air Arabia and First Gulf Bank (FGB). Dubai-listed Air Arabia FV was set at AED 1.95, with the recommendation “Buy”.

The share currently trades at AED 1.300, meaning that the current share price is 33.33% below its market price. Air Arabia market capitalisation amounts to $1.551 million.

The financial group also set the FV for Abu Dhabi-listed FGB at AED 17.40 with the recommendation “Buy”. Considered one of the largest banks by market capitalisation in the UAE, FGB’s market cap amounts to $18.50 million.

The share end Sunday at a 1.15% decline to AED 17.20.