Qatar-Mubasher: The research unit of Qatar National Bank (QNB) placed an 'Accumulate' recommendation on Industries Qatar, lowering the price target to QAR 130.
The price target decrease was due to expectation that the company will post weak earnings for the last quarter of 2015. However, the company's dividends for this period will likely be attractive, the think tank said.
It added that the steep decline in stock price is attributable to investors' concerns about a potential rise in gas prices.
Falling oil prices still represent a major risk for regional peers and will likely hurt the company's operations.
The company posted net earnings of QAR 3.8 billion for the first nine months of 2015, falling 18.8% (QAR 0.9 billion) compared with the year-ago period.
