BofA forecasts strong ADNOC Supply results

Bank of America expects Adnoc Supply and Services to achieve strong profit growth in the upcoming period, supported by performance in the oil tanker market, expansion in the liquefied natural gas sector, and logistics services. The target price for the stock has been raised to 8.6 AED with a buy recommendation, indicating that earnings before interest, taxes, depreciation, and amortization (EBITDA) are exceeding current expectations and reflecting solid operational momentum. It is anticipated that the expansion in liquefied natural gas and logistics divisions will support structural growth and reduce reliance on shipping market fluctuations.

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