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United Securities Revises Adnoc Logistics & Services Price Target After Q2 Earnings Beat

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United Securities LLC updated its price target for Adnoc Logistics and Services (ADX:ADNOCLS) to 7.50 Emirati dirhams following the company's second-quarter earnings.

The energy maritime logistics company's second-quarter revenue came in at $2.6 billion, "significantly above" United Securities' estimates, according to a Monday note. Net profit was $951 million, against the research firm's forecast of $381 million.

"The company raised its 2026 earnings guidance for the third time during the year, supported by the continued strong performance of the shipping business. Management now expects mid 20% growth (vs low single digit growth) in revenue and high 110% growth (vs high 60% growth) in net profit," analysts said. "Based on the current results and guidance, we increase our 2026e revenue forecast to USD 6.3bn (from USD 5.1bn) and raise our net profit to USD 1.9bn from USD 1.4bn. Revenue, profitability and margins substantially exceeded our forecasts."

The stock's hold rating was unchanged.

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