10 Hrs
Source:
مباشر
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Lumi Target Cut to 30 riyals
Riyad Capital lowered its target price for Lumi shares to SAR 30 while maintaining its Buy recommendation, citing expected capital upside of around 55.6% over the next 12 months. The company’s revenue rose 12% year on year to SAR 462 million in the third quarter of 2026, but net profit fell 79% to SAR 11 million, missing both company and market expectations. Riyad Capital attributed the earnings weakness to a decline in short-term rentals, losses on used-car sales and higher costs. It viewed the pressures as temporary and said the share-price decline represented a buying opportunity.
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