Target prices (TP) of about several Tadawul-listed stocks are over 20 percent higher than closing prices on May 7, according to a study conducted by Argaam Research.

 

Disparities were found between current prices and price estimates of several companies following the disclosure of first-quarter results last month.

 

The research covered 61 stocks. Argaam found 39 to be trading below estimates, and 20 trading above. Jarir Marketing Co. (Jarir) and Halwani Bros. were the only stocks with current prices equal to their TP.

 

Hail Cement and Saudi Airlines Catering Co. saw their stocks trade well below TP, at 24 percent and 22 percent, respectively.

 

Companies Trading Below TP

Change

Price on May 7

Number of ratings

Target price (SAR)

Company

24%

22.9

1

30.0

Hail Cement

22%

163.0

2

210.0

Saudi Airlines Catering Company

22%

105.0

1

135.0

Al-Tayyar Travel Group

19%

25.6

3

31.5

National Industrialization Company

18%

25.3

1

31.0

Tabuk Cement

18%

95.8

5

116.2

Saudi Cement

17%

49.2

4

59.1

Yamama Cement

16%

66.9

5

79.7

Yanbu Cement

15%

104.5

4

123.5

Al-Othaim Market

14%

67.7

4

78.9

STC

14%

28.5

1

33.0

Najran Cement

13%

77.9

2

90.0

eXtra

11%

129.4

2

146.0

Mouwasat Medical Services Company

10%

63.3

1

71.0

National Medical Care Company

10%

47.7

1

53.2

The National Shipping Company

10%

126.0

1

140.0

Herfy Food

10%

81.2

3

90.0

Arabian Cement

10%

17.6

1

19.5

Riyad Bank

9%

24.2

2

26.5

Alinma Bank

8%

49.7

1

54.0

Eastern Province Company

8%

76.5

2

83.0

SAVOLA Group

7%

99.5

2

107.5

Southern Province Company

7%

129.8

2

140.0

Dallah Healthcare Holding Company

7%

58.5

1

63.0

Budget Saudi

7%

30.1

2

32.3

SAMBA Group

7%

106.1

3

113.7

Al-Hokair

6%

94.5

4

100.7

Qassim Cement

5%

120.3

4

126.5

SAFCO

5%

32.6

3

34.2

Sipchem

4%

86.2

1

90.0

Saudi Ceramic Company

4%

27.4

2

28.6

Saudi Industrial Investment Group

4%

44.8

1

46.6

Taiba Holding Company

3%

33.2

1

34.4

Astra Industrial Group

3%

22.8

1

23.5

Northern Region Cement

3%

35.1

1

36.2

Arab National Bank

3%

36.4

2

37.5

SABB

2%

16.3

2

16.7

Sahara Petrochemical Company

1%

11.6

3

11.8

Zain

1%

39.5

1

40.0

Saudi Fransi Bank

 

Mobily topped the list of stocks trading above TP, with its share price at SAR 36.9. Its actual trading price, however, averaged SAR 31.3 according to different research firms.

 

Yansab and Almarai each had seven ratings issued by investment firms, topping the list of rated stocks. Yansab’s current average price of SAR 54.6, was about 4 percent higher than its TP, which stood at SAR 51.6. Meanwhile, Almarai shares last traded at SAR 90.8, nine percent higher than the average TP of SAR 83.

 

Companies Trading Above TP

Change

Price on May 7

Number of Analysts

Target price (SAR)

Company

+19%

36.9

2

31.1

Etihad Etisalat Company (Mobily)

+17%

57.3

5

49.2

Advanced Petrochemical Company

+14%

39.3

2

34.4

Al Bilad

+14%

26.3

1

23.0

City Cement

+13%

44.9

1

39.6

Madden

+12%

16.8

1

15.0

Al Jouf Cement

+10%

27.6

1

25.0

Petrochem

+9%

90.8

7

83.4

Almarai

+8%

77.3

1

71.5

Jabal Omar Development Company

+7%

63.0

3

58.8

Al Rajhi Bank

+7%

19.4

1

18.1

Saudi Electricity Company

+7%

61.8

1

58.0

Al Hammadi Company for Development and Investment

+6%

14.3

1

13.5

Chemanol

+6%

54.6

7

51.6

Yansab

+6%

137.4

1

130.0

SADAFCO

+3%

33.8

2

32.8

Nadec

+3%

31.9

2

31.1

Bank Aljazira

+2%

47.2

1

46.1

Saudi Hollandi Bank

+2%

12.2

4

12.0

Saudi Kayan Petrochemical

+1%

106.5

5

105.3

Sabic

 

Companies Trading Equal to TP

Change

Price on May

Recommendations

Target price (SAR)

Company

0%

231.0

4

231.9

Jarir

0%

84.9

1

84.6

Halwani Bros

 

Argaam Reports

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