83 Days
Source:
Sky News
Bernstein lifts ADNOC Distribution target price
Bernstein Institute has raised the target price for ADNOC Logistics and Services stock to 8.39 AED from 6.94 AED, with expectations of a 47% increase compared to the current level. The report points to positive turning points in the company's performance, supported by improved maritime shipping sector performance and higher oil tanker prices, as well as the operation of six new liquefied natural gas (LNG) carriers that will contribute to increased profits. The "Outperform" recommendation has also been reaffirmed, and profit forecasts before interest, taxes, depreciation, and amortization (EBITDA) have been raised by 7% to 21% for the period from 2026 to 2029. The outlook continues to project an annual profit growth rate of 5% until 2030, with dividend distributions reaching up to 1.25 billion AED for 2026.
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