(June 20): One of Abu Dhabi’s newest investing behemoths, 2PointZero PJSC, got its first research rating on Friday, providing rare insight into one of the emirate’s largest listed holding companies.
In their report, analysts at First Abu Dhabi Bank PJSC (FAB) assigned the US$21 billion (RM86.22 billion) firm a “buy” rating, citing “strong institutional support, disciplined capital allocation and AI-led digital integration.” The bank has a price target of of 3.30 dirhams (RM3.69) on the firm, suggesting gains of 46% from its last closing price of 2.26 dirhams.
The initiation marks the first known analyst activity on the company since it was formed under the US$230 billion conglomerate International Holding Co (IHC), which remains its biggest shareholder. 2PointZero operates across the consumer, energy, mining and investment sectors, and alongside IHC ranks as one of the largest stocks on the emirate’s benchmark index.
Many of these firms are ultimately overseen by Sheikh Tahnoon bin Zayed Al Nahyan, who is also chairman of IHC and FAB. While large listed groups in the Gulf typically attract broad analyst coverage, some have relatively limited external research. IHC is among those that currently has no analyst coverage.
FAB didn’t respond to a request for comment. An IHC spokesperson said analyst research remains fully independent and that the firm is engaging with local, regional and international financial institutions to expand coverage of its listed subsidiaries, with a goal of covering all public units by year-end.
The firm was formed after IHC, the emirate’s largest listed firm, combined Multiply Group PJSC, 2PointZero and Ghitha Holding PJSC. It’s already shown an appetite for global dealmaking, unveiling an investment in fitness band maker Whoop Inc and agreeing to buy a US gas infrastructure firm in quick succession.
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