Albilad Capital starts Mobily with Overweight rating [Mubasher (Saudi Arabic)]
(Mubasher (Saudi Arabic) Via Acquire Media NewsEdge) Albilad Capital initiated coverage for Etihad Etisalat (Mobily), saying
that it evaluated the stock using Price to Earnings ratio, Enterprise
Value to EBITDA and Enterprise Value to Sales.
"Our comparable universe includes the biggest listed GCC telecom
operators. We initiate our coverage with a fair value of SAR 98.5, which
is 15.9% higher than the current market price, thus we assign Overweight
recommendation," Albilad said.
Mobily was established in 2004 by a consortium led by Etisalat, the UAE
based telecom conglomerate. Mobily is the official brand name of Etihad
Etisalat, renowned as the second mobile service provider in the Kingdom of
Saudi Arabia. Mobily is the first Saudi communications company to get an
operation license for 3rd generation services and beyond.;
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