9 stories mentioning ADX:AMRUpdated 8h ago
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Citi on Wednesday increased the price target for restaurant operator Americana Restaurants International (ADX:AMR, SASE:6015) to 2.68 Saudi riyals from 2.45 riyals and reiterated its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Markets in the United Arab Emirates closed in the green on Wednesday as investors brace for the US Federal Reserve's highly anticipated monetary policy meeting later in the day.At the close of trading, the FTSE ADX General Index was little changed at 0.048% in the green, while the DFM General Index gained 0.122%.The US Fed is expected to leave rates unchanged in the 3.50% to 3.75% range for the fifth consecutive meeting amid cooling but still-elevated inflation and looming uncertainty from the Middle East conflict. However, traders are also pricing in the possibility of a rate hike."Global markets will be bracing for the Fed meeting as we're bound to have a surprise, but the direction remains up for debate. Markets seem to settle at around a 30% probability of a hike, which means both a hold and a hike should push rates around," ING analysts said. "The narrative around the decision matters too, especially the stance of Fed Chair Kevin Warsh if the option to hike rates is chosen. He might not endorse the move but simply deliver it."On the geopolitical front, the US and Saudi Arabia carried out joint strikes on Iran-backed groups in Eastern Iraq in response to drone attacks on Saudi energy infrastructure. The escalating tensions in the Middle East faded hopes of a swift resolution and drove oil prices higher, with Brent crude oil futures up 4.88% as of 3:45 pm UAE time.Back home and on the corporate front, investors assessed first-half earnings reports from companies, including Americana Restaurants International (ADX:AMR) and Aldar Properties (ADX:ALDAR).Americana Restaurants International was the Abu Dhabi bourse's most traded stock by volume and closed 4.88% higher after it recorded a 59.2% year-over-year growth in attributable net profit. Aldar Properties also achieved a higher attributable profit for the period, backed by an 8% growth in revenue, but closed the session 2.35% in the red.Meanwhile in Dubai, Commercial Bank of Dubai (DFM:CBD) launched its new CBD Invest digital wealth offering to provide its elite and private banking customers with a detailed view of their financial position and enable them to manage their investment portfolios and make informed decisions. Shares of the Emirati lender gained 2.13% at closing.
Stocks in the United Arab Emirates were back in the green on Tuesday as hopes of renewed negotiations between the US and Iran boosted market sentiment, leading to a decline in oil prices.At the close of trading, the FTSE ADX General Index gained 0.913%, while the DFM General Index added 0.933%.US President Donald Trump said that he held off a planned military attack on Iran scheduled for Tuesday at the request of Qatar, Saudi Arabia, and the UAE. Trump also added that "serious negotiations" are taking place and a potential deal acceptable to the US might be reached.According to reports from various media outlets, Iran submitted a new response to the latest US proposal through Pakistan. The proposal entails the withdrawal of US troops from close areas, compensation for war damages, lifting of all sanctions, and release of frozen funds."The oil market continues to trade in wide ranges, and it remains extremely sensitive to Iran-related headlines amid current supply disruptions," ING said. "One might think the oil market would become increasingly numb to these headlines. However, the scale of supply disruptions is significant and growing more concerning each day that oil flows remain halted."Back home, Abu Dhabi Securities Exchange integrated its derivatives offerings and market data onto the Bloomberg Terminal, enabling institutional investors to explore and access opportunities within UAE-listed companies.On the corporate side, Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, teamed up with Americana Restaurants International (ADX:AMR) to integrate up to 200 quick service restaurants in its network. Shares of Adnoc Distribution closed 0.26% higher, while those of Americana Restaurants surged 6.25%.United Securities downgraded its rating on Dubai Taxi Co (DFM:DTC) to hold from buy and cut its price target to 2.15 Emirati dirhams per share, after its profit and revenue came to be lower than the investment management firm's estimates. The taxi company's stocks closed the session flat.
Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, and Americana Restaurants International (SASE:6015, ADX:AMR) partnered to enhance dining convenience and roadside retail offering in the United Arab Emirates, Saudi Arabia, and Egypt.The Abu Dhabi-listed fuel distributor and retailer will add up to 200 quick-service restaurants from Americana Restaurants' portfolio of 12 international brands into its network, according to a Tuesday release. It will also support its target to double non-fuel retail transactions by 2030.Furthermore, Americana Restaurants will gain access to Adnoc Distribution's strategically positioned locations, enabling it to enhance its brand visibility, accessibility, and customer base.
Citi on Tuesday increased the price target for restaurant operator Americana Restaurants International (SASE:6015, ADX:AMR) to 2.40 Saudi riyals from 2.22 riyals and reiterated its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Morgan Stanley on Tuesday raised the price target for restaurant operator Americana Restaurants International (SASE:6015, ADX:AMR) to 1.81 Saudi riyals from 1.73 riyals and affirmed its underweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
HSBC on Wednesday downgraded restaurant operator Americana Restaurants International (SASE:6015, ADX:AMR) to hold from buy and kept its price target at 2.25 Emirati dirhams.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Morgan Stanley on Thursday decreased the price target of fast food and restaurant brands operator Americana Restaurants International (ADX:AMR, SASE:6015) to 1.73 Saudi riyals from 1.75 riyals and kept its underweight rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Jefferies on Monday lowered fast food and restaurant brands operator Americana Restaurants International (ADX:AMR, SASE:6015) to underperform from hold and reduced its price target to 1.60 Emirati dirhams from 2.26 dirhams.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
