FAB Keeps Mobily at Buy After 'Solid' Q2 Performance

04:47 AM EDT, 07/21/2026 (MT Newswires) -- FAB Securities reiterated its investment case for Etihad Etisalat (SASE:7020), d/b/a Mobily, noting the mobile telecommunications company's second-quarter results. "We maintain our BUY rating on Mobily with a target price of SAR 75.00. The Company reported a solid financial performance in 2Q26, with revenue increasing 5.2% YOY to SAR 5.1 Bn, supported by expansion across all revenue streams and sustained growth in the subscriber base. The EBITDA margin stood at 38.6% in 2Q26, up from 37.8% in 2Q25, reflecting revenue growth and an improved revenue mix," the research firm said Monday. The Tadawul-listed company also posted an 8.6% increase in second-quarter net profit to 901 million Saudi riyals, consistent with FAB analysts' estimate of 925 million riyals. The increase was attributed to broad-based segment revenue growth, partly offset by higher zakat charges, depreciation and amortization, as well as rising service costs.