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Riyad Capital maintained its “Neutral” rating on Elm’s stock and set a 12-month target price of SAR 680, compared with a closing price of SAR 622. It expects a total return of 10.9%, including price appreciation and distributions. In the third quarter of 2026, the company posted net profit of SAR 778 million, up 39% year on year, and revenue of SAR 2.79 billion, up 10%, supported by growth in its digital businesses and improved profit margins.
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