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Alistithmar Capital sets Jarir’s FV at SAR221/shr

Alistithmar Capital sets Jarir’s FV at SAR221/shr
Photo Credit: Arabianeye - Reuters
JARIR
4190
-1.68% 15.20 -0.26

Riyadh – Mubasher: Alistithmar Capital said in a report that financial results announced by Jarir Marketing Company came in line with its estimates, up 1.1%, as it earlier forecasted SAR 413.1 million in net profits.

The profit rise was ascribed to higher sales and other revenues, in addition to a decline in banking expenses.

The research firm set the stock’s target price at SAR 221/share, with a ‘Buy’ recommendation.

Jarir earlier posted SAR 218.5 million in net profit for Q3, up 8% year-on-year from SAR 203 million.