1 Day
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مباشر
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Tasnee target cut to 8 SAR
Riyad Capital lowered its target price for Tasnee shares to SAR 8 from SAR 9, while maintaining its Neutral recommendation and forecasting a total return of around 9% over 12 months, compared with the share’s closing price of SAR 7.34. It attributed the cut to the continued impact of the decline in the value of its investment in Tronox and persistently negative profit margins, despite higher sales volumes. The forecast takes into account the contribution from the expansion of Saudi Ethylene and Polyethylene Company and lower feedstock costs. Tasnee posted a net loss of SAR 439 million and revenue of SAR 444 million in the third quarter of 2026. Riyad Capital is awaiting the expansion’s ramp-up to full capacity, following the start of trial production in July.
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