Mobily stock gets Strong Buy upgrade as Q3 profit edges higher
Published on 11/09/2026 at 01:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst sees valuation support
- United Securities linked the upgrade partly to recent share-price weakness rather than a sharp change in Mobily's earnings outlook.
- Revenue growth lagged the broker's model, while higher operating expenses weighed on profitability.
- Mobily serves mobile, broadband and enterprise customers in Saudi Arabia and competes with stc and Zain KSA.
United Securities upgraded Mobily to "Strong Buy" on October 29, 2026, after the Saudi telecom operator reported a steady third-quarter performance. Finimize reported that the broker retained its 72 Saudi riyal price target while upgrading the rating.
Mixed results behind upgrade
Mobily's third-quarter net income rose 1 percent to 925 million Saudi riyals, while revenue increased 4.5 percent year over year to about 5.1 billion Saudi riyals. The result was mixed against United Securities' estimates: profit was 1.4 percent above its forecast, but revenue came in 3.9 percent below its model.
Finimize said higher operating expenses weighed on profitability. The unchanged target alongside the stronger rating suggests the broker's decision was influenced partly by the recent share-price weakness and the resulting valuation support, rather than by a sudden improvement in the operating outlook.
What investors should watch
The next focus is whether Mobily can sustain revenue growth while containing operating costs. Investors will also watch the company's consumer, business and wholesale activities, as well as demand for mobile, broadband and enterprise services.
Mobily's third-quarter earnings were also reported by Daily Digest Invest, which described the company as one of Saudi Arabia's largest telecommunications providers. The report said the operator competes with stc and Zain KSA.
Saudi telecom business
Mobily, formally Etihad Etisalat, provides mobile, broadband and enterprise services in Saudi Arabia. Its business spans consumer connectivity, business solutions and telecommunications services for carriers.
The company operates in a highly competitive Saudi market alongside stc and Zain KSA. Mobily is one of the larger national providers, while stc has the broader market position and Zain KSA remains a direct mobile and broadband rival.
Investors can follow broader Saudi market coverage in Current market reports.
More news and analyses on Mobily stock are available in the company coverage.
Mobily company facts
- Company: Etihad Etisalat Company, known as Mobily
- ISIN: SA000A0DM9P2
- Home exchange: Tadawul
- Sector: Telecommunications
- Headquarters country: Saudi Arabia
