Jefferies predicts credit upgrade for Abu Dhabi First
J.P. Morgan expects First Abu Dhabi Bank to achieve double-digit credit growth in 2026 and beyond, with over $100 billion in funding opportunities for capital expenditures in the UAE, especially amid increasing demand for government financing and related entities following the Iranian-American conflict. The firm also believes that the bank's capabilities in hedging, structuring, financing, and asset management will support growth in non-interest revenues, aiming for a return on equity exceeding 16%. The stock is rated "Buy" with a target price of AED 24.5, considering it their preferred Emirati stock.
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