Al Hammadi rated ‘overweight’, TP set at SAR 56.3

02/09/2015 Argaam

Aljazira Capital, which has initiated coverage on Al Hammadi Development & Investment Co., recommended an “overweight” rating on the stock and set its target price at SAR 56.30.

 

The decision was based on the company’s expansion plans and a shortage of health care services and facilities in Saudi Arabia, the brokerage firm said in a report.

 

In addition, Al Hammadi is set to boost its capacity by 340 percent with two new facilities following the opening of Al-Nozha Hospital early next year.

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