‎Here’re research firm views on SABIC Q3 2021 results; average TP

‎Here’re research firm views on SABIC Q3 2021 results; average TP

‎In this report, Argaam monitors the views of seven research firms on Saudi Basic Industries Corp.’s (SABIC) financial results for Q3 2021.

The petrochemicals giant reported a net profit of SAR 5.6 billion in Q3 2021, compared to SAR 7.6 billion in Q2 2021 and nearly SAR 1 billion in Q3 2020.

HSBC recommended an “Underweight” rating on SABIC with a target price (TP) of SAR 90 a share.

The average TP set by seven research firms for SABIC stood at SAR 118/74 share. Arqaam Capital set the highest TP at SAR 132/share.Meanwhile,HSBC set the lowest TP at SAR 90/share.

Target Price, Stock Price Comparison – After Q3 2021 Results (SAR)

Date

Research Firms

Ratings

Price /SAR

Variation

Previous

Current

Current

Target

Nov. 24, 2021

AlphaMena

Accumulate

Accumulate

108.40

131.00

+20.85%

Nov. 22, 2021

HSBC

Underweight

Underweight

108.40

90.00

(17%)

Oct. 28, 2021

Arqaam Capital

Hold

Hold

108.40

132.00

+21.77%

Oct. 28, 2021

Hermes

Neutral

Neutral

108.40

100.00

(7.75%)

Oct. 28, 2021