Riyadh – Mubasher: Al Rajhi Capital Research has revised its outlook for Jarir Marketing Company (Jarir Bookstores) and raised the target price (TP) to SAR 231 per share.
The research entity said Jarir’s store expansion plan will likely drive its market share, according to an emailed statement.
Demand for mobile, laptop, and non-stationary products continued to grow during the first quarter (Q1) of 2021, Al Rajhi Capital Research added.
Jarir has opened a showroom on King Abdul Aziz Road in Salah Al Din District in Riyadh this week. This was the second store Jarir Bookstores has opened since the beginning of the year after the inauguration of its branch in Alnaseem District in Alhafouf city last month.