Mobily stock upgraded to Strong Buy after steady Q3 results

Published on 10/30/2026 at 01:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Mobily stock traded at SAR 56.30 on Tadawul on October 29, down 1.23 percent from the prior close. The rating move followed a mixed third-quarter scorecard.

Mobily rating and earnings context

United Securities upgraded Mobily to Strong Buy while keeping its SAR 72 price target unchanged.
Third-quarter revenue increased 4.5 percent year over year, but operating expenses weighed on profitability.
The rating change appears linked partly to valuation after recent share-price weakness rather than a sharp change in the business outlook.

Mobily, SA000A0DM9P2, Illustration mit AI erstellt.

United Securities upgraded Mobily to Strong Buy after the Saudi telecom operator delivered a steady third quarter, according to an analysis published by Finimize on October 29, 2026. The broker maintained its SAR 72 price target.

Mixed third-quarter scorecard

Mobily's third-quarter revenue rose 4.5 percent year over year to SAR 5.1 billion, while net income increased 1 percent to SAR 925 million. Finimize reported that profit was 1.4 percent above United Securities' forecast, but revenue was 3.9 percent below the broker's model.

Higher operating expenses weighed on profitability, leaving investors with a mixed earnings picture. The combination of modest profit growth and a revenue miss helps explain why the rating change was not accompanied by a higher target price.

Valuation remains central

Finimize said the upgrade may partly reflect valuation after recent weakness in Mobily's share price rather than a sudden improvement in the operating outlook. With the target unchanged, a lower share price can increase the implied upside used by brokers when assigning rating thresholds.

The latest available Tadawul quote was SAR 56.30 at 12:19 UTC on October 29, 2026, compared with a previous close of SAR 57.00. That represented a decline of 1.23 percent for the quoted session.

For investors, the main issue is whether revenue growth can offset cost pressure and support further earnings improvement. The broker's unchanged target leaves future operating performance, rather than a revised valuation anchor, as the key factor to monitor.