Al-Rajhi Capital: Saudi Ceramic's misses Q1 forecasts; rating remains ‘neutral’

15/04/2015 Argaam
Al-Rajhi Capital said Saudi Ceramic’s first quarter net earnings fell short of its SAR 89 million estimate. 
 
The investment bank maintained its neutral rating on the stock at a target price of SAR 120. 
 
The ceramic producer reported a 3.6 percent decline in net profit to SAR 84.3 million in the first quarter, compared to SAR 87.4 million in Q1-2014. 

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