Riyadh-Mubasher: AlJazira Capital said City Cement’s Q4-15 net earnings reaching SAR 59.93 million were 12.4% below its estimate.
The research firm recommended ‘Overweight’ on the stock, lowering the price target to SAR 16.1, with upside potential of 34.1%.
The cement producer posted 27% growth in Q4-15 net profits to SAR 60 million, compared with SAR 47.3 million in the prior-year period.
