FAB Tweaks Tabreed Price Target After Q2 Results

03:48 AM EDT, 08/18/2026 (MT Newswires) -- FAB Securities revised its price target on National Central Cooling (DFM:TABREED), d/b/a Tabreed, following the release of the district cooling system company's second-quarter results. "We maintain our BUY rating on Tabreed with a revised target price of AED 3.65. The Company recorded a decline in net profit during 2Q26, primarily driven by higher operating and administrative expenses and lower consumption volumes, which weighed on profitability. Revenue remained broadly stable, supported by growth in fixed capacity charges, driven by 1.7% YOY growth in consolidated capacity and 1.25% CPI indexation, as well as continued growth in the Value Chain Business, partially offset by lower variable consumption charges as volumes declined 2.3% YOY in 2Q26," analysts said in a Tuesday note. For the three-month period, the company logged a 28.7% year-over-year decline in net profit to 114 million Emirati dirhams, missing FAB's forecast of 168 million dirhams. Revenue, meanwhile, was "broadly flat" at 642 million dirhams, against the research firm's 653 million-dirham estimate. According to the research firm's website, the price target was 3.95 dirhams as of Feb 19.