Saudi Petrochemicals sector’s performance is expected to improve in Q1 2018 due to the rise in global demand and higher products prices, Aljazira Capital said in a report.
Profit margins are also seen higher compared to the previous quarter driven by the decline in raw materials prices.
The research firm expects petrochemical companies to post higher gross profit for Q1 2018 compared to Q4 2017 on higher selling prices and profit margins, in addition to booking non-recurring financial effects during the previous quarter.
Aljazira Capital has issued its recommendations and target process for a number of listed companies as follows:
|
Aljazira Capital’s Recommendations |
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|
Company |
Recommendation |
Target price (SAR/share) |
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|
Previous |
New |
Previous |
New |
||
|
Banks |
|||||
|
Al Rajhi |
Neutral |
Neutral |
70.30 |
77.60 |
|
|
Alinma |
Overweight |
Neutral |
17.00 |
21.6 |
|
|
Albilad |
Neutral |
Neutral |
19.90 |
24.2 |
|
|
Petrochemicals |
|||||
|
SABIC |
Neutral |
Neutral |
102.00 |
107.00 |
|
|
Yansab |
Overweight |
Overweight |
72.00 |
73.50 |
|
|
SAFCO |
Neutral |
Neutral |
65.00 |
65.00 |
|
|
Sipchem |
Overweight |
Neutral |
19.50 |
22.30 |
|
|
Advanced |
Neutral |
Overweight |
45.30 |
52.50 |
|
|
Tasnee |
Overweight |
Neutral |
18.00 |
19.50 |
|
|
Kayan |
Overweight |
Overweight |
10.40 |
14.50 |
|
|
Sahara |
Overweight |
Neutral |
16.00 |
17.20 |
|
|
Petrochem |
Overweight |
Neutral |
21.80 |
25.50 |
|
|
Telecom |
|||||
|
STC |
Neutral |
Neutral |
73.50 |
78.78 |
|
|
Mobily |
Neutral |
Underweight |
24.00 |
13.00 |
|
|
Zain |
Overweight |
Overweight |
9.00 |
10.67 |
|
|
Retail |
|||||
|
Jarir |
Neutral |
Neutral |
144.50 |
160.00 |
|
|
Alhokair |
Neutral |
Overweight |
34.00 |
32.00 |
|
|
SACO |
Neutral |
Neutral |
96.00 |
117.60 |
|
|
Cement |
|||||
|
Yamama |
Neutral |
Neutral |
16.20 |
16.20 |
|
|
Saudi Cement |
Neutral |
Neutral |
47.30 |
47.30 |
|
|
Southern |
Neutral |
Neutral |
45.30 |
45.30 |
|
|
Qassim |
Neutral |
Neutral |
44.50 |
44.50 |
|
|
Arabian |
Overweight |
Neutral |
40.80 |
34.90 |
|
|
Yanabu |
Neutral |
Neutral |
26.70 |
34.50 |
|
|
City |
Neutral |
Neutral |
10.30 |
10.30 |
|
|
Eastern |
Overweight |
Neutral |
27.10 |
27.10 |
|
|
Healthcare |
|||||
|
Al Hammadi |
Neutral |
Neutral |
36.00 |
36.00 |
|
|
Mouwasat |
Neutral |
Neutral |
146.00 |
160.90 |
|
|
Care |
Overweight |
Overweight |
54.70 |
66.2 |
|
|
Dallah |
Neutral |
Neutral |
103.50 |
104.00 |
|
|
Saudi German Hospitals |
Overweight |
Overweight |
60.70 |
63.70 |
|
|
Other sectors |
|||||
|
Ma’aden |
Neutral |
Neutral |
43.50 |
49.00 |
|
|
Al Tayyar |
Overweight |
Overweight |
39.00 |
34.00 |
|
|
Alhokair Group |
Neutral |
Overweight |
40.50 |
29.00 |
|
|
Almarai |
Neutral |
Neutral |
54.00 |
54.00 |
|
|
Budget Saudi |
Neutral |
Underweight |
26.70 |
26.70 |
|
|
Catering |
Overweight |
Overweight |
98.00 |
90.80 |
|
|
Al Othaim |
Neutral |
Neutral |
112.00 |
154.0 |
|
|
Bahri |
Overweight |
Overweight |
35.20 |
35.20 |
|
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