Saudi Fransi Capital maintains ‘sell’ on Mobily; adopts bleak outlook

04/08/2015 Argaam

Saudi Fransi Capital has maintained a “sell” recommendation on Etihad Etisalat Co. (Mobily) and left its target price unchanged at SAR 30 amid pressure on the telco’s operating performance and profitability.

 

The outlook for Saudi Arabia’s second-largest mobile operator is bleak as there are no signs that point to a return in earnings growth, the brokerage firm said in a report.

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