Saudi Telecom Co.’s (STC) net income of SAR 2.75 billion in the first quarter 2019 came inline with the average street estimates of SAR 2.6 million, NCB Capital said in an earnings review.
The inclusion of the Saudi market on emerging market indices and strong revenue growth are all key drivers of the telecoms market.
NCB Capital said it will update its models and set the target price per share upon the disclosure of full financial data from the telecom company.
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