Riyadh-Mubasher: Saudi Fransi Capital recommended 'Buy' on Advanced Petrochemical Co. (APC), setting the price target at SAR 55.
The research firm said APC's earnings for the fourth quarter of 2015 were nearly 8% below its estimate.
The petrochemical producer posted net earnings of SAR 146 million for Q4-15, falling 27% compared with SAR 200 million in the year-ago period.
The 12-month net profits also declined 5% year-on-year from SAR 751 million to SAR 713 million.
