06:21 AM EDT, 10/30/2026 (MT Newswires) -- FAB Securities affirmed its buy rating on NMDC Energy (ADX:NMDCENR) as analysts took note of the company's third-quarter earnings. "NMDCENR's performance remained under pressure in 3Q26 amid ongoing operational challenges and current geopolitical environment in the region. Revenue declined 2.3% YOY to AED 4.7 Bn, but rose 4.7% QOQ, supported by continued execution of backlog. Profitability weakened due to cost overruns related to logistics, insurance and fuel prices amid the ongoing regional situation," analysts wrote in a first look note published Friday. FAB's revenue forecast for the third quarter was 4.81 billion Emirati dirhams. Meanwhile, the energy sector engineering and construction company's attributable net profit for the period stood at 168 million dirhams, compared with the research firm's forecast of 243 million dirhams. "[The] Company remains cautiously optimistic about the usual year-end margin uplift from project closures, however regional uncertainty could limit the improvement in 4Q26. However, the Company's sizeable backlog, expanding project pipeline and new projects awards is expected to provide support to the longer-term growth prospects," analysts said. The stock has a price target of 3.80 dirhams at FAB.

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