Albilad Capital has upgraded Saudi Airlines Catering Co. (Saudi Catering) to "overweight" from "neutral" as the company is expected to maintain profitability in 2015.
The brokerage firm said in a report that it also kept the stock's target price at SAR 184.
On Sunday, Saudi Catering reported a seven percent year-on-year rise in Q2-2015 net profit which reached SAR 175.8 million. H1-2015 net profit (SAR 343.3 million) increased five percent compared to the same period last year on lower general and administrative expenses.
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