Al-Istithmar Capital stated that Q1-14 earnings of Saudi Telecom Co. (STC) were 10.5% higher than its forecasts.
The research firm set the stock’s fair value at SAR 73, recommending ‘Neutral’.

The telco reported SAR 2,391 million net earnings for the first quarter of 2014, compared with SAR 1,550 million a year earlier, a jump of 54.26%.