Aljazira Capital issues recommendations for listed firms

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
Company	Recommendation			Target price (SAR/share)
Company	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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