Riyadh-Mubasher: Riyad Capital stated that the second-quarter earnings of Advanced Petrochemical Co. (APC) beat its and consensus forecasts reaching SAR 195 million and SAR 190 million, respectively.

The think tank set the stock’s target price at SAR 55, recommending ‘Hold’.

The petrochemical producer posted SAR 243 million in net earnings for the second quarter of 2015, rising 32% compared with SAR 184.63 million in the same period a year ago.