Riyadh – Mubasher: AlRajhi Capital has recommending increasing positions on Al Hammadi Development and Investment and set the target price at SAR 50 per share, a rise of 14% from the stock’s closing price on Tuesday at SAR 43.68.
The company is currently facing a series of challenges including the late reopening of its high revenue-yielding hospital in Olaya, Riyadh as well as its new hospital in the Nozha district, the research firm said in a note.
It added that it was likely that Al Hammadi will freeze dividends for 2016.
