Saudi Fransi Capital put the stocks of all ten petrochemical companies within its coverage under review after the sharp decline of oil prices.
The financial firm expects this decline of oil prices, which reached 45% decline at US$ 112/barrel, to affect petrochemical products’ prices on the short and medium terms which will negatively affect the companies’ profitability.
The following table indicates Fransi Capital’s recommendations for the petrochemical shares under its coverage:
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|
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Saudi Fransi Capital recommendations |
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Target price |
Recommendation |
Previous target price |
Previous recommendation |
Company |
|
|
Under revision |
Under revision |
122.0 |
buy |
SABIC |
|
|
Under revision |
Under revision |
76.0 |
buy |
YANSAB |
|
|
Under revision |
Under revision |
64.5 |
buy |
Advanced Petrochemical Company |
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|
Under revision |
Under revision |
42.0 |
buy |
Saudi Industrial Investment Group |
|
|
Under revision |
Under revision |
42.0 |
buy |
Sipchem |
|
|
Under revision |
Under revision |
26.5 |
buy |
Sahara Petrochemical Company |
|
|
Under revision |
Under revision |
38.0 |
buy |
TASNEE |
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|
Under revision |
Under revision |
13.5 |
retention |
KAYAN |
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|
Under revision |
Under revision |
31.0 |
retention |
Petrochem |
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|
Under revision |
Under revision |
15.0 |
retention |
Chemanol |
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