Surge in Etisalat shares expected to last well into 2016 | The National

Surge in Etisalat shares expected to last well into 2016 | The National:

"The stellar rise of Etisalat shares this year, on the back of the loosening of foreign ownership restrictions and the inclusion of the stock in MSCI’s emerging market index, could continue well into 2016 with its inclusion in FTSE indexes and the expectation of a higher dividend to shareholders.

According to investment bank EFG-Hermes, while Etisalat’s valuation is at “punchy” levels following its almost 61 per cent rally year to date, it sees “any sizeable correction in share price as an opportunity to invest in the stock” because of appealing fundamentals including “one of the most balanced combinations of value and growth”.

The Abu Dhabi share index is down 6.3 per cent for the year to date, in contrast as lower oil prices and weakening emerging market sentiment weighed."



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