Riyadh – Mubasher: Albilad Capital expected Mouwasat Medical Services to achieve good growth rate in the coming period in light of the current expansion of the company which will boost operating capacity, in addition to increasing demand for medical services.
The research firm upgraded its valuation for the stock from SAR 139 to SAR 147 per share, with a “Neutral” recommendation.
In a published report, Albilad Capital expected the company to post SAR 285.8 million as net profits in 2017.
Mouwasat Q4 results missed the estimate of the research firm of SAR 60 million and the market consensus of SAR 58 million, the report added.
The Saudi-listed company reported net profits of SAR 72.2 million for Q3 of 2016, up 34.2% from SAR 53.8 million for the same period a year earlier.
