Riyadh – Mubasher: Al Rajhi Capital rated “Neutral” on five Saudi-listed petrochemical stocks, according to a report.
The stocks are Saudi Basic Industries Corp (SABIC), Yanbu National Petrochemicals Co. (Yansab), Advanced Petrochemical, National Industrialization Company (Tasnee) and Saudi International Petrochemical (Sipchem).
“Most of the stocks have already reached our target prices, the report highlighted,” adding that “In the last one year, Saudi Petchems stocks have moved up ~3.7% as compared to 3% increase in Global petchem sector, implying further upside may be limited”.
