Aljazira Capital maintains ‘overweight’ rating on Tasnee ​despite weak results

21/04/2015 Argaam

Aljazira Capital said​ that it has maintained an "overweight" rating for​ National Industrialization Co. (Tasnee)​, despite the company's​ disappointing set of results for Q1-2015. 

 
The petrochemical producer suffered a net loss of SAR 332.5 million for the first quarter, completely missing market forecasts of SAR 164.8 million in net profit.
 
​Tasnee's target price 
​was ​
set at SAR 31.9, the investment bank added.

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