FAB Revises Borouge Rating to Buy After Q2 Net Profit Beat

03:43 AM EDT, 08/04/2026 (MT Newswires) -- FAB Securities tweaked its investment view on Borouge (ADX:BOROUGE) after the petrochemicals company published its second-quarter financial statements, according to a Monday first look note. For the second quarter, the company logged a 1.1% annual decline in net profit to $190 million, which was higher than FAB's forecast of $143 million. Revenue, meanwhile, rose 7.7% yearly to $1.41 billion, compared with the research firm's $1.13 billion forecast. "We revise our rating on Borouge from ACCUMULATE to BUY with an unchanged target price of AED 2.95. Borouge's profitability was resilient in 2Q26 despite a highly challenging operating environment, mainly driven by significantly higher average selling prices and record product premia, partially offset by a decline in sales volumes following the April 2026 security incident and Strait of Hormuz-related disruption," analysts wrote.