Riyadh-Mubasher: Albilad Capital recommended 'Overweight' on Jarir Marketing Co. (JMC), reducing the stock's price target to SAR 200 from SAR 220.
The research firm said Jarir's earnings for the fourth quarter of 2015 came below its estimate.
The Saudi retailer recorded net earnings of SAR 208 million during the fourth quarter of 2015, a fall of 4.7% from SAR 206 million in the year-ago period.
Full-year net earnings increased 11% year-on-year from SAR 745 million.
