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QNB raises Qatar Cement TP to QAR 139/shr

QNB raises Qatar Cement TP to QAR 139/shr
Photo Credit: Arabianeye-Reuters
National Cement
QNCD
0.47% 3.62 0.02


Qatar National Bank’s (QNB) research unit slightly raised the target price of Qatar National Cement Co’s stock from QAR 138 to QAR 139, after the company announced that it will raise its production capacity to reach 5000 tons of cement per day due to the expected increasing demand on cement amid preparations for the 2022 World Cup.

The company’s net profit declined to QAR 420.4 million in 2014, compared to QAR 433.3 million in 2013. 

Meanwhile, annual revenues rose to QAR 1.05 billion in 2014, compared to QAR 1 billion in 2013, according to a recent report released by QNB.