Dubai – Mubasher: Securities & Investment Company (SICO) reduced the price target (PT) of Dubai-listed du to reach AED 5.40, while maintaining its “Sell” recommendation, according to a statement.

The new PT is 2% lower than the stock’s current price.

The stock’s price-earnings (P/E) ratio is expected to reach 15.3x in 2017.

SICO’s recommendation was affected by the telecom operator’s weak financials results posted for the first quarter of 2017.