AlJazira Capital Retains Mobily's Overweight Rating After 'Strong' Q2 Performance

06:15 AM EDT, 07/20/2026 (MT Newswires) -- AlJazira Capital maintained its investment view on Etihad Etisalat (SASE:7020), d/b/a Mobily, as the research firm took note of the company's "strong operating performance" in the second quarter. "Mobily's Q2-26 performance was an extension of its strong run in recent quarters. The company maintains broad-based revenue growth and operating strength. Additionally, the company's capital investments (FY26 CAPEX guided at 18-20% of revenue) form a basis for continued business expansion. We believe this investment will significantly strengthen the company's position in the B2B and wholesale segments by fueling the expansion of our submarine networks, cloud services, data centers, and 5G infrastructure," analysts said in a Sunday note. "We maintain our 'Overweight' recommendation on the stock and the TP of SAR 74.8/share." For the second quarter, the mobile telecommunications company logged an 8.6% annual increase in net profit to 901 million Saudi riyals, which aligned with Aljazira Capital's 894 million-riyal estimate. Mobily's 5.08 billion-riyal revenue was also in line with the research firm's forecast of 5.07 billion riyals.