UAE .. Emaar Real Estate shares rises after Morgan Stanley raised the target price

The shares of the “Emaar” real estate company listed in the Dubai Financial Market increased by 0.38% at the end of the market trading today, Tuesday, to close at the price of 13.05 dirhams per share.

The trading on the shares of Emaar Properties at that time came at 11.96 million shares with a value of trading 156.14 million dirhams.

The highest price for the share at that time was at 13.20 dirhams per share during the session, while the lowest price per share was at 12.95 dirhams per share.

The increase in the share price came after the “Morgan Stanley” bank raised the target price for the share of “Emaar Properties”, which is listed in the Dubai market.

The bank indicated in a research note issued today, Tuesday, that the target price of the company has become 17.1 dirhams, compared to 11.20 dirhams in the previous evaluation. The bank added that the “Emaar” share is still trading at a large price compared to the fair price of the stock, as the stock is currently trading in the range of 13 dirhams.

In a separate context, the UAE “Emaar Real Estate” achieved a total revenue of 23.8 billion dirhams (equivalent to 6.5 billion dollars) with a growth of 30%, and net profits before taxes are calculated at a value The first of 2024.

The company’s net profit increased by 12% to 11.04 billion dirhams in the first 9 months of 2024, compared to 9.8 billion dirhams in the same period last year, while the profits belonging to the shareholders increased by 3% to reach 8.5 billion dirhams.