Investment bank Shuaa Capital has upgraded shares of Emaar Properties to a "buy" from "neutral," saying it offered a nearly 50 per cent upside to its fair value target. The UAE's biggest investment bank said in a research report dated August 22 it had arrived at a fair value of Dh18.74 for Emaar's shares, a 43 per cent premium to its close on Wednesday of Dh13.10.
