Riyadh-Mubasher: Alistithmar Capital placed a ‘Neutral’ recommendation on SABIC, setting the price target at SAR 70.
The research firm said the company’s Q4-15 net earnings of SAR 3 billion were below its estimate of SAR 4.2 billion.
Saudi Arabia’s giant petrochemical producer SABIC posted a 29% decline in Q4-15 net profits to SAR 3 billion, down from SAR 4.3 billion in the prior-year period.
