NCB Capital expected a continued earnings growth for the retail sector driven by outstanding outlets’ revenue and increased profit margins.
The financial advisor expected in its report increased cash flows from foreign investors and increased revenue of some companies like Al Othaim and Al Hokair by 8% to 10%.
NCB capital raised its recommendation on Al Othaim’s share to purchase with a target price of SAR 127.1 and reduced its recommendation for Al Hokair’s share to neutral.
|
NCB Capital recommendations for retail sector |
||
|
Target price |
recommendation |
Company |
|
123.5 |
Neutral |
Al Hokair |
|
196.5 |
Neutral |
Jarir |
|
127.1 |
increased |
Al Othaim |
|
134.5 |
Neutral |
Extra |
|
103.0 |
increased |
Shaker Group |
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