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Mobily's target price raised by Riyad Capital

  • Saudi Arabia: Wednesday, October 28 - 2009 at 12:02

Saudi Arabia-based brokerage services firm, Riyad Capital, has raised its target price for Etihad Etisalat Company (Mobily) to SR55 from SR46 with a 'buy' recommendation. 'We believe Mobily will capture 44% of voice and 40% of data market share by end-2010,' the brokerage said, as it raised its total subscriber forecast to 19.4 million from 18.2 million.

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