Etisalat shares are undervalued, given the rosy long-term prospects of the UAE company, according to Mena Corp.
Shares in the telecommunications company yesterday closed up by 0.42 per cent on the Abu Dhabi Securities Exchange to Dh9.56 but the research firm yesterday put a target price of Dh9.80 on the stock.
"I don't think we will see a quick growth in the stock. But in the long-term, I like Etisalat's prospects," said Petr Molik, the head of the research division at Mena Corp.
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