Riyadh-Mubasher: NBK Capital upgraded its recommendation on Yanbu National Petrochemicals Co. (Yansab), lowering the stock’s fair value from SAR 50.3 to SAR 46.7, with upside potential of 15% over the stock price of SAR 40.6 on the evaluation date.
The research firm, however, upgraded its recommendation to ‘Buy.
The petrochemical producer’s revenues are expected to fall by 30% to SAR 6.67 billion this year, and then they would rise by 7% and 8% to SAR 7.2 billion and SAR 7.7 billion in 2016 and 2017, respectively.
