Global financial analysts praise the plans "ADNOC" For growth and its companies’ commitment to governance systems
ABU DHABI, 12 October / WAM / The first investor council organized by ADNOC in Abu Dhabi succeeded in attracting more than 500 international investors and financial analysts, in a step that represents a new stage in the ambitious growth efforts of the group and its listed companies.
The event highlighted ADNOC’s plans for growth, the strength of its six listed companies, its commitment to applying the best governance systems, the highest standards of financial discipline and transparency, and its excellence in reliability, which contributed to a number of the most prominent international banks raising their target valuations for the shares of these companies.
Analysts from important international banks confirmed that the ADNOC Investors Council highlighted the approach of ADNOC listed companies, which is characterized by transparency, financial discipline, and focus on creating long-term value, praising ADNOC’s important role in enhancing investor confidence in the capital markets in the UAE.
The event was held in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies, and during which the strength of the performance of ADNOC Drilling, ADNOC Gas, ADNOC Distribution, ADNOC Logistics and Services, Borouge, and Vertiglobe was reviewed, and ADNOC’s focus on providing… Attractive returns for shareholders, supported by a clear vision for long-term dividends amounting to 158 billion dirhams ($43 billion) until 2030.
Major global financial institutions, including Goldman Sachs, Barclays, Citigroup, Morgan Stanley, JP Morgan, and Bank of America, stressed after the council held the importance of ADNOC’s leading position in the energy sector, pointing to the group’s balanced growth plans, the flexibility that distinguishes its companies, and the strength of its business that covers the stages and areas of the sector’s value chain. And its successful efforts to enhance the benefit of digital solutions and artificial intelligence tools.
Many analysts raised their assessment of the target prices for ADNOC’s listed shares by up to 11.4%, basing their assessment on strong performance, growing profits, and distributing profits over shorter periods.
It is worth noting that about 80% of analysts who cover the shares of listed ADNOC companies give them a “buy recommendation”.
ADNOC’s continued implementation of its strategy for growth and business diversification contributed to positively enhancing the participation of the local and global financial and business community in the first investor council it organized and succeeded in establishing confidence in the group’s ability to achieve sustainable returns and contribute effectively to achieving the UAE’s vision of building a prosperous and sustainable future.
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