SABIC beats Q2 estimate on production efficiency: Alistithmar Capital

27/07/2015 Argaam

Saudi Basic Industries Corp.’s (SABIC) second-quarter net profit (SAR 6.17 billion) topped Alistithmar Capital’s forecast of SAR 4.88 billion on its production efficiency, the brokerage firm said in a report.

 

In addition, the petrochemical producer is accustomed to dealing with lower oil prices and also has a diverse product range, the report added.

 

The investment arm of Saudi Investment Bank maintained a “neutral” rating on the stock and left its target price unchanged at SAR 100. 

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