Saudi Catering rated ‘overweight’, TP set at SAR 185: Aljazira Capital

09/09/2015 Argaam

Saudi Airlines Catering Company has been rated “overweight” by Aljazira Capital with a target price of SAR 185 per share, the investment firm said in a report.

 

The stock’s current price is SAR 132.

 

The brokerage firm added that the increase in the number of domestic and international flights, and the company’s expansion of its fleet have had a positive impact on revenue.

 

Airlines Catering dominates a strong market share and maintains a steady growth rate in the light of low lending needs and lack of competition, Aljazira Capital added.

 

The firm expects the company’s net profit will reach SAR 691.3 million by the end of 2015.

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