United Securities Reiterates Tecom Group's Rating, Price Target After Q2 Results

07:29 AM EDT, 08/03/2026 (MT Newswires) -- United Securities LLC kept its hold rating on Tecom Group (DFM:TECOM) after it took note of the business district developer's results for the second quarter and resilient performance amid regional developments. "The company remains well positioned, with occupancy and rental rates at cyclical highs, providing strong visibility for recurring earnings. In addition, ongoing development of new inventory across its business districts is expected to support the next phase of revenue growth over the medium term," analysts wrote in a Sunday note. For the second quarter, Tecom logged a 6.6% year-over-year increase in net profit to 401 million Emirati dirhams, which was broadly in line with United Securities' forecast. For revenue, the company reported a 10.8% annual increase to 786 million dirhams, which exceeded the research firm's estimate by 5.3%. "Following the 2Q26 results, we have revised upward our revenue and earnings forecasts to reflect the company's stronger-than-expected operational resilience. However, we believe persistent geopolitical uncertainties could continue to weigh on investor sentiment in the near term, limiting valuation expansion. We therefore maintain our target price of AED 3.71 per share, implying an upside potential of 9.7% from the current market price," analysts added.