Riyadh-Mubasher: NBK Capital recommended 'Buy' on Fawaz Alhokair, lowering the fair value to SAR 83, with upside potential of 77% to the stock price of SAR 47.

The fair value decrease was due to the market conditions as Tadawul and Alhokair fell 37% and 57%, respectively, the research firm said.

Investors are worried about the economic repercussions of falling oil prices, which led to a drop in the stock price. In addition, the company's international business witnessed weakness, which made forecasts for the stock unclear.

Alhokair posted net earnings of SAR 91.17 million for the third quarter ended 31 December 2015, falling 14% compared with SAR 106.2 million a year earlier.