FAB Maintains Empower Rating, Price Target After Q2 Results

06:58 AM EDT, 08/11/2026 (MT Newswires) -- FAB Securities affirmed its investment view on Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, as it took note of the cooling services company's second-quarter earnings. "We maintain our BUY rating on EMPOWER with a target price of AED 2.25. Empower reported a softer performance in 2Q26, with lower cooling demand leading to reduced cooling consumption and lower Effective Full Load Hours. The softer demand was primarily attributable to lower occupancy levels in Dubai, driven by regional geopolitical tensions," analysts wrote in a Tuesday first look note. For the three-month period, the company posted a net profit of 256 million Emirati dirhams, down 0.6% year over year and against FAB's 296 million-dirham estimate. Revenue declined 2.7% annually to 889 million dirhams, compared with the research firm's forecast of 967 million dirhams. "Overall, despite the softer cooling demand in 2Q26, Empower remains well positioned to benefit from the seasonally stronger demand in 3Q26, supported by its expanding connected and contracted capacity base, which is expected to drive higher customer connections and strengthen earnings in 2026," analysts added.