Saudi International Petrochemical Co.’s (Sipchem) first quarter net profit of SAR 91.7 million (86.4 percent y-o-y increase) came in line with NCB Capital’s (NCBC) forecasts of SAR 93.2 million, the brokerage firm said in a report.
Higher-than-expected sales were offset by higher-than-expected non-operating expenses, NCBC said.
“The ongoing improvement in operating rates combined with the positive outlook of methanol are the stock key catalysts”, the report added.
NCBC remained “Overweight” on Sipchem with a target price of SAR 16 per share.
Saudi International Petrochemical Co. (Sipchem) reported a net profit of SAR 91.7 million in Q1 2017, up 86.4 percent year-on-year (YoY) as net sales increased.
|
Recommendations issued for SIPCHEM in last 3 months |
||
|
Firm |
Recommendation |
Target Price |
|
NCBC |
Overweight |
16.00 |
|
Riyad Capital |
Neutral |
16.00 |
|
Aljazira Capital |
Overweight |
22.50 |
|
Al Rajhi Capital |
Overweight |
20.40 |
|
Average Target Price |
|
18.72 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}