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Research firm sets STC target at 49.6 Riyals
Al Jazeera Capital Company’s report indicates that Saudi Telecom Company "STC"’s net profit in the second quarter of 2026 decreased by 5.2%, reaching 3.6 billion riyals. The company achieved revenues of 20.2 billion riyals, reflecting a 3.7% increase compared to the previous year, supported by growth in the business sector and the wholesale and operator units. The stock is still recommended with an increased position and a target price of 49.6 riyals, with a price-earnings ratio of 14.8 times and a dividend yield of 5.2%. The decline in profit was partly due to reversals of zakat and income tax provisions, while the adjusted return showed a slight increase of 0.7%.
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