Riyadh – Mubasher: Al Jazira Capital has set the target price (TP) of Abdullah Al Othaim Markets Company at SAR 92.50 per share, with an ‘Overweight’ recommendation, according to a report released on Tuesday.
The research company expects that Al Othaim’s sales to grow in 2020 driven by the inauguration of new stores, while its earnings per share for the current year were estimated at SAR 4.42.
“We believe Al Othaim stands to benefit from increased retail demand, in-addition Al-Othaim is a discount retailer, which places it in a position to attract budget conscious customers, bolstering its long term growth prospects,” Al Jazira’s report said.
It is worth noting that Al Othaim’s profits amounted to SAR 142.23 million in the fourth quarter of 2019, compared with SAR 106.9 million in the year-ago period.
