UAE stocks undervalued after sell-off due to oil fall | The National

UAE stocks undervalued after sell-off due to oil fall | The National:

"UAE stocks are undervalued after a sell-off that was sparked last year following a huge drop in prices of hydrocarbons and the subsequent economic slowdown, portfolio managers said.

Prices are not reflecting the profitability of listed companies that continued to make money and meet analyst expectations during the third quarter, according to investors.

“If you look at the largest earnings contributor for the market, which is the banking sector, it was more or less in line with forecast,” said Sebastien Henin, the head of asset management at The National Investor, an Abu Dhabi investment firm. “I think there was a 1 or 2 per cent deviation and we have seen this trend across the major sectors such as real estate and telecoms.”"



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