06:47 AM EST, 11/04/2026 (MT Newswires) -- United Securities LLC revised its rating on Emirates Telecommunications Group (ADX:ETISALAT), d/b/a Etisalat Group, following the Abu Dhabi-listed company's third-quarter results. "Etisalat has delivered strong financial and operational performance despite recent geopolitical headwinds. In light of this resilience we have revised our medium-term forecasts and increased our target price to AED 23.4 per share and upgraded our rating to BUY," the research firm said in a Wednesday note. Etisalat Group's third-quarter revenue rose 6.9% year over year to 19.46 billion Emirati dirhams, surpassing United Securities' forecast by 1.2%. Meanwhile, the telco group's attributable net profit for the three months ended Sept. 30 came in at 11.24 billion dirhams, versus 2.99 billion dirhams a year ago, following a one-off gain from the sale of its Vodafone stake. "We expect investment levels to increase in the coming quarters, as the company continues to target a capex intensity of 16-17%," the research firm said.

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