Riyadh-Mubasher: Al-Rajhi Capital increased the target price on Yansab from SAR 38.8 to SAR 40, according to a report.
The research firm remained neutral and recommended buying the stock on dips.
Yansab is primarily an attractive dividend play, offering a dividend yield of 6. 1 % at the current levels, the report said, adding that the stock is currently trading at 2016E PEof 13.9x.
Al-Rajhi revised estimates upward on Yansab following the announcement of detailed financial statements for the first quarter of 2016.
“Our model assumes that the company will be able to maintain annual utilization rates around 95%,” the research firm said.
