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UBS Cuts Price Targets on ADCB, NBAD

DUBAI — UBS Investment Research slashed its price estimates for Abu Dhabi Commercial Bank (ADCB) and the National Bank of Abu Dhabi (NBAD), citing weaker loan growth and higher profit-and-loss impairments in both lenders. UBS cut its target price for ADCB to Dh1.80 from Dh2.55. The price target for the NBAD was cut to Dh10.85 from Dh15.

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