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FAB Revises Borouge Rating to Buy After Q2 Net Profit Beat

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FAB Securities tweaked its investment view on Borouge (ADX:BOROUGE) after the petrochemicals company published its second-quarter financial statements, according to a Monday first look note.

For the second quarter, the company logged a 1.1% annual decline in net profit to $190 million, which was higher than FAB's forecast of $143 million. Revenue, meanwhile, rose 7.7% yearly to $1.41 billion, compared with the research firm's $1.13 billion forecast.

"We revise our rating on Borouge from ACCUMULATE to BUY with an unchanged target price of AED 2.95. Borouge's profitability was resilient in 2Q26 despite a highly challenging operating environment, mainly driven by significantly higher average selling prices and record product premia, partially offset by a decline in sales volumes following the April 2026 security incident and Strait of Hormuz-related disruption," analysts wrote.

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