Target prices (TP) of about several Tadawul-listed stocks are over 20 percent higher than closing prices on May 7, according to a study conducted by Argaam Research.
Disparities were found between current prices and price estimates of several companies following the disclosure of first-quarter results last month.
The research covered 61 stocks. Argaam found 39 to be trading below estimates, and 20 trading above. Jarir Marketing Co. (Jarir) and Halwani Bros. were the only stocks with current prices equal to their TP.
Hail Cement and Saudi Airlines Catering Co. saw their stocks trade well below TP, at 24 percent and 22 percent, respectively.
|
Companies Trading Below TP |
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|
Change |
Price on May 7 |
Number of ratings |
Target price (SAR) |
Company |
|
24% |
22.9 |
1 |
30.0 |
Hail Cement |
|
22% |
163.0 |
2 |
210.0 |
Saudi Airlines Catering Company |
|
22% |
105.0 |
1 |
135.0 |
Al-Tayyar Travel Group |
|
19% |
25.6 |
3 |
31.5 |
National Industrialization Company |
|
18% |
25.3 |
1 |
31.0 |
Tabuk Cement |
|
18% |
95.8 |
5 |
116.2 |
Saudi Cement |
|
17% |
49.2 |
4 |
59.1 |
Yamama Cement |
|
16% |
66.9 |
5 |
79.7 |
Yanbu Cement |
|
15% |
104.5 |
4 |
123.5 |
Al-Othaim Market |
|
14% |
67.7 |
4 |
78.9 |
STC |
|
14% |
28.5 |
1 |
33.0 |
Najran Cement |
|
13% |
77.9 |
2 |
90.0 |
eXtra |
|
11% |
129.4 |
2 |
146.0 |
Mouwasat Medical Services Company |
|
10% |
63.3 |
1 |
71.0 |
National Medical Care Company |
|
10% |
47.7 |
1 |
53.2 |
The National Shipping Company |
|
10% |
126.0 |
1 |
140.0 |
Herfy Food |
|
10% |
81.2 |
3 |
90.0 |
Arabian Cement |
|
10% |
17.6 |
1 |
19.5 |
Riyad Bank |
|
9% |
24.2 |
2 |
26.5 |
Alinma Bank |
|
8% |
49.7 |
1 |
54.0 |
Eastern Province Company |
|
8% |
76.5 |
2 |
83.0 |
SAVOLA Group |
|
7% |
99.5 |
2 |
107.5 |
Southern Province Company |
|
7% |
129.8 |
2 |
140.0 |
Dallah Healthcare Holding Company |
|
7% |
58.5 |
1 |
63.0 |
Budget Saudi |
|
7% |
30.1 |
2 |
32.3 |
SAMBA Group |
|
7% |
106.1 |
3 |
113.7 |
Al-Hokair |
|
6% |
94.5 |
4 |
100.7 |
Qassim Cement |
|
5% |
120.3 |
4 |
126.5 |
SAFCO |
|
5% |
32.6 |
3 |
34.2 |
Sipchem |
|
4% |
86.2 |
1 |
90.0 |
Saudi Ceramic Company |
|
4% |
27.4 |
2 |
28.6 |
Saudi Industrial Investment Group |
|
4% |
44.8 |
1 |
46.6 |
Taiba Holding Company |
|
3% |
33.2 |
1 |
34.4 |
Astra Industrial Group |
|
3% |
22.8 |
1 |
23.5 |
Northern Region Cement |
|
3% |
35.1 |
1 |
36.2 |
Arab National Bank |
|
3% |
36.4 |
2 |
37.5 |
SABB |
|
2% |
16.3 |
2 |
16.7 |
Sahara Petrochemical Company |
|
1% |
11.6 |
3 |
11.8 |
Zain |
|
1% |
39.5 |
1 |
40.0 |
Saudi Fransi Bank |
Mobily topped the list of stocks trading above TP, with its share price at SAR 36.9. Its actual trading price, however, averaged SAR 31.3 according to different research firms.
Yansab and Almarai each had seven ratings issued by investment firms, topping the list of rated stocks. Yansab’s current average price of SAR 54.6, was about 4 percent higher than its TP, which stood at SAR 51.6. Meanwhile, Almarai shares last traded at SAR 90.8, nine percent higher than the average TP of SAR 83.
|
Companies Trading Above TP |
||||
|
Change |
Price on May 7 |
Number of Analysts |
Target price (SAR) |
Company |
|
+19% |
36.9 |
2 |
31.1 |
Etihad Etisalat Company (Mobily) |
|
+17% |
57.3 |
5 |
49.2 |
Advanced Petrochemical Company |
|
+14% |
39.3 |
2 |
34.4 |
Al Bilad |
|
+14% |
26.3 |
1 |
23.0 |
City Cement |
|
+13% |
44.9 |
1 |
39.6 |
Madden |
|
+12% |
16.8 |
1 |
15.0 |
Al Jouf Cement |
|
+10% |
27.6 |
1 |
25.0 |
Petrochem |
|
+9% |
90.8 |
7 |
83.4 |
Almarai |
|
+8% |
77.3 |
1 |
71.5 |
Jabal Omar Development Company |
|
+7% |
63.0 |
3 |
58.8 |
Al Rajhi Bank |
|
+7% |
19.4 |
1 |
18.1 |
Saudi Electricity Company |
|
+7% |
61.8 |
1 |
58.0 |
Al Hammadi Company for Development and Investment |
|
+6% |
14.3 |
1 |
13.5 |
Chemanol |
|
+6% |
54.6 |
7 |
51.6 |
Yansab |
|
+6% |
137.4 |
1 |
130.0 |
SADAFCO |
|
+3% |
33.8 |
2 |
32.8 |
Nadec |
|
+3% |
31.9 |
2 |
31.1 |
Bank Aljazira |
|
+2% |
47.2 |
1 |
46.1 |
Saudi Hollandi Bank |
|
+2% |
12.2 |
4 |
12.0 |
Saudi Kayan Petrochemical |
|
+1% |
106.5 |
5 |
105.3 |
Sabic |
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Companies Trading Equal to TP |
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|
Change |
Price on May |
Recommendations |
Target price (SAR) |
Company |
|
0% |
231.0 |
4 |
231.9 |
Jarir |
|
0% |
84.9 |
1 |
84.6 |
Halwani Bros |
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