Attijari Global Research (AGR) has maintained its 'Hold' recommendation on Maroc Telecom (IAM: CDI) but revised its price target downward to 100 Moroccan dirhams (MAD) from 110 MAD previously. The adjustment follows an update to the firm's growth outlook for the telecommunications operator.
The research note, published in March 2026, cites a more cautious stance due to the competitive pressures in Maroc Telecom's key markets, including Morocco and its African subsidiaries. AGR's analysis points to challenges in sustaining revenue growth and margin performance.
Maroc Telecom's stock performance and financial results for the 2025 fiscal year were considered in this updated assessment. The revised target of 100 MAD reflects a tempered expectation for near-to-medium-term shareholder returns.
Other financial analysts covering the stock have also recently issued mixed ratings, ranging from 'Buy' to 'Neutral', with price targets clustering around the 100 MAD level, indicating a consensus of cautious optimism amid sector headwinds.
