Riyadh – Mubasher: Alistithmar Capital said that the Saudi Telecom Co. (STC) is experiencing a relative enhancement resulting from restructuring and boosting its investments.
The research firm expected that the company’s main business would grow 2.5% by maintaining the level of the cash flow in the future.
Alistithmar Capital placed a “Neutral” recommendation on STC, setting the target price and fair value at SAR 66.
The telecom company’s Q4 results came lower than the research firm’s estimates of SAR 2.3.
STC posted a net profit of SAR 2.15 billion for the fourth quarter of fiscal 2016, 10.26% up from SAR 1.95 billion for Q4-15.
