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Research advises boosting Budget Saudi holdings
Aljazira Capital for Research recommended increasing their holdings in the shares of Badr Jet Saudi Arabia, despite lowering the target price from 62.1 riyals to 41 riyals, reflecting a potential growth opportunity of 42.3% compared to the current price. The report expects the company's profits to decline by 29% in 2026, reaching 245 million riyals, due to a decrease in tourist numbers and additional costs. However, it anticipates a gradual recovery in profits to reach 390 million riyals in 2028 as economic conditions improve. The long-term leasing sector is highlighted as a main growth driver, with Rihal's fleet expanding and revenues expected to rise to 1.337 billion riyals by 2028, along with reduced company debt and improved dividend indicators.
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