SABIC’s Q1 earnings may get boost from Clariant stake: Al Rajhi Capital

31/01/2018 Argaam

 

Saudi Basic Industries Corp’s (SABIC) acquisition of a 24.99 percent stake in Switzerland’s Clariant should boost to Q1 2018 earnings, Al Rajhi Capital said in a recent note.

 

The first-quarter results would be also driven by the commercial operation of the major petrochemical producer’s polyacetal and Methacrylate projects, which is likely to begin in Q1.

 

SABIC’s cash dividends are expected to increase to SAR 5.0 per share this year, Al Rajhi Capital added.

 

The brokerage firm affirmed its “neutral” rating on the stock, but revised its target price to SAR 105. 

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