Al Jazeera Capital issues Mobily target of 74.8 Riyals

The article reveals the results of United Communications Company "Mobily" for the second quarter of 2026, where it recorded a net profit of 901 million riyals, an increase of 8.6% compared to the previous year, in line with analyst expectations. Revenues also grew by 5.2%, reaching 5.08 billion riyals, supported by an increase in the subscriber base, which reached 16.9%. Aljazira Capital has set the target price for the stock at 74.8 riyals, representing a potential 21.9% upside, and recommends increasing investment positions. The company expects continued strong performance through capital investments focused on expanding the network and infrastructure for 5G, developing cloud computing services, and strengthening market share by increasing the subscriber base and expanding its operations in the business and wholesale sectors.

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