BofA Upgrades First Abu Dhabi Bank to Buy on Resilient Returns -- Market Talk
Dow Jones2026/08/26 13:441344 GMT - Bank of America upgrades First Abu Dhabi Bank to buy from neutral, saying the lender's earnings growth and return potential aren't reflected in its current valuation. BofA expects about 8% compound annual EPS growth through 2028 and return on tangible equity of 17%-18%, supported by government-related lending, funding strength, pricing discipline and fee-income growth. It raises its price objective 10% to AED23.20, implying around 18% upside. Geopolitical risk remains the main swing factor, but First Abu Dhabi Bank's domestic franchise, sovereign-linked activity and balance-sheet strength provide buffers, BofA says.(farhan.rafid@wsj.com)
(END) Dow Jones Newswires
August 26, 2026 09:44 ET (13:44 GMT)
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