Saudi Catering upgraded to ‘overweight’ on positive outlook

Albilad Capital has upgraded Saudi Airlines Catering Co. (Saudi Catering) to "overweight" from "neutral" as the company is expected to maintain profitability in 2015.

The brokerage firm said in a report that it also kept the stock's target price at SAR 184.

On Sunday, Saudi Catering reported a seven percent year-on-year rise in Q2-2015 net profit which reached SAR 175.8 million. H1-2015 net profit (SAR 343.3 million) increased five percent compared to the same period last year on lower general and administrative expenses.