Albilad Capital cuts eXtra’s TP to SAR 95 on weak Q1 figures

22/04/2015 Argaam
Albilad Capital said home appliance retailer eXtra’s Q1 figures were far below its forecasts as it posted a 45 percent drop year-on-year to SAR 16.1 million. 
 

The stock price target was lowered to SAR 95 from SAR 97.10 and a ​"neutral" recommendation was placed.

 

The investment bank added ​that new activities eyed by the company​ are still unclear​. However, eXtra will likely seek to offset low profitability in the existing business amid slowed market sales. 

Comments {{getCommentCount()}}

Be the first to comment

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.