Riyadh-Mubasher: Alawwal Capital increased Jarir Marketing Co.’s (JMC) 12-month price target to SAR 246.61 and the earnings per share (EPS) to SAR 11.47 in 2016 on positive expectations for the stock.  

The rating was also ascribed to the retail firm’s robust net income and operating profits on higher sales of all segments.

The Tadawul-listed company posted a 15% rise in the second-quarter net earnings to SAR 154.9 million, compared to SAR 135.2 million in Q2-14.

Net profit during the first half of the year increased to SAR 401.9 million, up 19% from SAR 336.6 million during the same period in 2014.

Jarir also outperformed its local peers in terms of profit growth and profit margins.

The company looks forward to a promising future amid its commitment to offering high-quality products and services, which will increase the EPS to SAR 9.8 in 2015.