-- SNB Capital on Wednesday reduced the price target for cement company Saudi Cement Co. (SASE:3030) to 38.10 Saudi riyals from 48.30 riyals and maintained its neutral rating.
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City Union Bank (NSE:CUB, BOM:532210) opened two new branches in India on Friday, bringing its total network to 980 branches, according to a same-day company filing to the Indian stock exchanges.The bank's shares were down over 1% in after-market hours.The lender opened one branch each in the Indian states of Andhra Pradesh and Gujarat, the filing said.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target to $440 from $417, based on a 2027 P/E of 18.4x, in-line with the stock's 10-year average forward P/E. We increase our adjusted EPS estimates to $21.15 from $21.12 for '26 and to $23.90 from $23.85 for '27. CSL posted Q1 adjusted EPS of $3.63 vs. $3.61 (+1%), well ahead of the $3.34 consensus. The quarter was characterized by stronger-than-expected margins, as revenue fell 4% to $1.05B ($11M below consensus) and adjusted EBIT margin expanded 30 bps to 17.1% (100 bps ahead of consensus). CSL shares traded 7% higher after the release on Thursday. In our view, the biggest positive was the margin expansion of the CCM segment (~72% of total quarterly revenue), which came despite a 5% revenue decline. We think management's path to $40 EPS under Vision 2030 is achievable through organic growth, margin expansion potential, and an accelerating innovation pipeline. Exceptional cash flow, a strong balance sheet, and strong returns to shareholders contribute to our Buy view.
Emirati equities broke a losing streak on the last trading day of the week as the FTSE ADX General Index added 0.432%, while the DFM General Index gained 0.691% at the close of Friday trading.Global market sentiment was once again bolstered by renewed optimism on continued US-Iran peace talks after a Reuters report said Iranian Foreign Minister Abbas Araqchi is due to arrive in Pakistan on Friday night. Citing a government source, the news outlet added that a US logistics and security team is already in Islamabad.Brent crude oil futures hovered at $104.28 per barrel at 3:58 pm UAE time on Friday, down 0.75% from the previous day.Meanwhile, the International Energy Agency said global liquefied natural gas output dropped 8% year over year due to attacks on Middle Eastern oil and gas infrastructures, with total supply losses of 20 billion cubic meters expected for the period between March and April from Qatar and the UAE."The Middle East conflict has already caused the loss of around 120 bcm of cumulative LNG supply for the period 2026-2030 when considering the combined effect of the near-term supply disruptions and the medium-term implications for supply. The losses resulting from the Middle East conflict account for around 15% of the expected global LNG supply over the 2026-30 period and, as such, will ultimately be offset by the start-up of new liquefaction facilities through the medium term," the IEA commented in its second-quarter gas market report.On the corporate side, the region saw the release of Sudatel Telecommunications Group's (ADX:SUDATEL) full-year 2025 earnings report, in which the telecommunications and internet services company posted a revenue of $452.5 million, its highest over the past six years. Its shares closed the session 1.81% in the green.Elsewhere, Dubai Investments (DFM:DIC) secured shareholders' approval to distribute a cash dividend of 0.25 Emirati dirham per share for 2025, sending the investment company's shares 1.26% higher at closing.