Falcom maintains ‘Overweight’ recommendation on Jarir with a TP of SAR 162/share

The increase in Jarir Marketing Co.’s number of showrooms and the growth in sales led to higher revenue in Q1 2020, Falcom Financial Services said in a research note.

The brokerage firm expects a moderate growth in revenue next year with subdued profit margins, on the back of rising sales and marketing expense as the company continues to support the growth of its e-commerce platform, and muted spending in Saudi Arabia and the rest of the world.

Falcom maintained its “Overweight” recommendation on Jarir and kept the target price (TP) unchanged at SAR 162 per share.