06:57 AM EDT, 10/29/2026 (MT Newswires) -- United Securities LLC upgraded its rating on Etihad Etisalat (SASE:7020), d/b/a Mobily, to strong buy, following the company's third-quarter earnings report. "Mobily continued to deliver steady performance in 3Q26, although net income came under pressure due to an increase in its operating expenses. Nevertheless, earnings came in marginally ahead of our forecast, as we had anticipated a moderation in margins," analysts said in a Wednesday note. During the three-month period, net income of the mobile telecommunications company rose 1% annually to 925 million Saudi riyals, while revenue increased 4.5% to 5.1 billion riyals. The results were respectively 1.4% higher and 3.9% lower than the research firm's forecasts. "We remain positive on Mobily, given its ability to deliver stable performance despite ongoing external uncertainties and volatility. Accordingly, we reiterate our target price of SAR 72 per share. However, following the recent weakness in the share price, we upgrade our rating to Strong Buy," the note said.

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