Maceen Cap maintains ‘buy’ on Bahri, cuts TP to SAR 55.70

08/03/2016 Argaam

Maceen Capital affirmed its “buy” rating on the National Shipping Company of Saudi Arabia (Bahri), and slashed its target price on the stock to SAR 55.70 per share from SAR 61.40.

 

The investment banking firm said in a report that it projects Bahri’s revenues to jump 27 percent this year to SAR 9.5 billion, when compared to the previous year. Net income is estimated to rise 9 percent year-on-year (YoY) to SAR 1.98 billion.

 

Lower oil prices have not had any direct impact on the company’s revenues; however, average oil shipping prices and contracts with oil traders could impact performance, Maceen added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.