Aljazira Capital has reaffirmed its "overweight” rating on Saudi Telecom Company
(STC)
following the firm’s better-than-expected first quarter profit of SAR 2.5 billion.
The firm also set the target price at SAR 87.7, it said in its review.
The recent advances appeared to have strengthened STC's competitive standing against Mobily and Zain.
It added that Saudi Arabia’s largest mobile and fixed line operator had made strong advancements within its mobile and pre-paid services during
the quarter
.
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