United Securities Tweaks Mobily's Rating After Q2 Results

03:26 AM EDT, 07/28/2026 (MT Newswires) -- United Securities LLC on Monday updated its rating on Etihad Etisalat (SASE:7020), d/b/a Mobily, to buy after taking note of its second-quarter results and its recent share price weakness. "Mobily delivered another quarter of steady performance in 2Q26, supported by growth across all business segments. While revenue fell short of our estimates, net income was broadly in line, supported by better-than-expected margins. The continued expansion in margins, driven by a favorable sales mix, was the key factor behind this resilience. Management has reaffirmed its 2026 guidance of mid- to high-single-digit revenue growth and an EBITDA margin of 37-38%. We have also largely maintained our forecasts, as the company's 1H26 performance was broadly in line with our expectations. Overall, we reiterate our target price of SAR 72 per share," analysts said in a note. The telecommunications company posted a 5.2% annual increase in its revenue to 5.1 billion Saudi riyals for the second quarter, missing United Securities' estimate by 4.3%. Net income, meanwhile, rose 8.6% year over year to 901 million riyals, which was 1.6% below the research firm's estimates.