Saudi Kayan’s performance may improve slightly in Q3 2020: Falcom

15/09/2020 Argaam

Saudi Kayan Petrochemical Co. (Saudi Kayan) is expected to witness slight improvement in its performance in the third quarter of 2020 on the back of a measured recovery in average selling prices of its products, Falcom Financial Services said in a new report.

 

However, the company is still likely to book a net loss during the year, the brokerage noted.

 

According to Energy Information Administration (EIA), oil demand may improve slightly in the second half of 2020, with prices expected to recover gradually during the period.

 

Falcom Financial maintained its “neutral” rating on the stock, raising the target price to SAR 8.5 per share.

Falcom-Saudi Kayan (15/9/2020)

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.