Riyadh-Mubasher: Riyad Capital recommended 'Buy' on Saudi Ceramics, setting the price target of SAR 74, with upside potential of 38.5%.
The research firm believes that 2016 will be a difficult year for Saudi Ceramics, expecting the company to achieve growth in 2017.
The stock trades at a P/E ratio of 9.2x, compared to those of the market and the sector which reach 15.5x and 13.6x, respectively.
Saudi Ceramics was targeted by long-term investors due to its stable operations and returns, Riyad Capital said.
