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Article: HC Securities Raises Earnings Forecasts for UNB.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- November 8, 2009
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Summary: DUBAI u Brokerage HC Securities has raised its 2009 and 2010 earnings estimates for Union National Bank, citing its better-than-expected performance in the third quarter, and expectations of lower provisions for losses in 2010.
HC SecuritiesAE earnings estimate for UNB in 2009 was hiked by 35 per cent to Dh1.30 billion from Dh969.7 million. For 2010, earnings estimate was revised upwards by 21 per cent to Dh1.50 billion compared to the original forecast of Dh1.24 billion.
The brokerage kept its aebuyAE recommendation on the stock, and raised its target price to Dh4.90 from Dh4.70. AaAa
It said the bankAEs net income of Dh358 million in ...