STC
7010
7010
AlJazira Capital has stated that Q1-14 financial results of Saudi Telecom Co. (STC) showed a deviation of 5.1% from its expectation.
The research firm reiterated its ‘Overweight’ rating for the stock, with an upside potential of 3.4% from the current market prices of SAR 71.67 (as of April 21, 2014).
AlJazira Capital maintained the stock’s 12-month price target at SAR 74.10.
The telco’s expected FY14 net profit is SAR 10.19 billion (SAR 5.09 a share), according to the report issuer.
The company posted 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%.
The research firm reiterated its ‘Overweight’ rating for the stock, with an upside potential of 3.4% from the current market prices of SAR 71.67 (as of April 21, 2014).
AlJazira Capital maintained the stock’s 12-month price target at SAR 74.10.
The telco’s expected FY14 net profit is SAR 10.19 billion (SAR 5.09 a share), according to the report issuer.
The company posted 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%.
Source:
Mubasher
