Riyadh – Mubasher: Al Rajhi Capital set the price target of Saudi Basic Industries Corporation (SABIC) at SAR 78 per share, with a ‘Neutral’ recommendation.
In a report released on Wednesday, the research firm expected the company’s profit to rise in 2017 to SAR 17.4 billion, versus SAR 15.7 billion expected to be reached in 2016.
Al Rajhi said that it revised its estimates on SABIC taking into account the latest developments in the petrochemical sector.
