9 stories mentioning SASE:1120Updated 8h ago
Every FINWIRES story that references SASE:1120, newest first.
UBS on Wednesday decreased the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 69 Saudi riyals from 72 riyals and maintained its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Riyad Capital on Tuesday upgraded Saudi Arabian lender Al Rajhi Bank (SASE:1120) to buy from neutral and kept its price target at 76.67 Saudi riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
The Tadawul All Share Index closed 0.40% in the red on Tuesday as Iran-aligned Houthis declared a naval blockade on Saudi maritime traffic in the Red Sea, threatening global energy supplies and trade in the Middle East.Crude oil soared to $90.778 per barrel as traders balanced escalating conflict and volatility in the Middle East amid news of a potential 10-day ceasefire proposed by mediators to resume negotiations between Iran and the US."With the Gulf's primary maritime outlet largely closed, the market is increasingly dependent on Saudi Arabia's East-West pipeline and Red Sea terminals to maintain export flows. Any disruption at Bab el-Mandeb would therefore threaten not only Saudi shipments but one of the few remaining routes capable of compensating for the severe reduction in Hormuz traffic," Rystad Energy senior vice president and head of geopolitical analysis Jorge Leon commented. "If a ceasefire does not materialize and Hormuz remains largely closed while the Houthi threat to Red Sea shipping intensifies, the risk of a significant rebound in oil prices would be substantial."At home, AlJazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report "steady" second-quarter results with net income expected to jump 39.7% year over year, while revenue is anticipated to rise 12.6%. The Saudi state-owned oil giant's shares declined 0.37% at close.On the earnings front, Alinma Bank (SASE:1150), Al Rajhi Bank (SASE:1120), and the Saudi National Bank (SASE:1180) reported higher year-over-year attributable profit and total operations profit for the first half of 2026. Alinma Bank and Al Rajhi Bank's shares closed 4.43% and 1.84% in the red, respectively, while the Saudi National Bank ended trading 0.62% in the green.Saudi Awwal Bank (SASE:1060), on the other hand, logged a higher net profit for the six months ended June 30, while total operations profit fell year over year. The Saudi Arabia-listed lender's shares fell 0.80% at closing.
Citi on Tuesday decreased the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 75.00 Saudi riyals from 76.00 riyals and affirmed its buy rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Roemer Capital on Wednesday decreased its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 68.80 Saudi riyals from 73 riyals and kept its hold rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Securities & Investment Company on Thursday reduced its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 78 Saudi riyals from 108 riyals and kept its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
FAB Securities on Thursday upgraded Saudi Arabian lender Al Rajhi Bank (SASE:1120) to accumulate from hold and increased its price target to 78.00 Saudi riyals from 73.33 riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
The Tadawul All Share Index closed Tuesday 0.19% in the red as market jitters regarding the uncertainty of the US-Iran peace talks happening sent investors into risk-off mode.As the end of the two-week ceasefire looms, Iran and the US are set to meet in Islamabad, Pakistan, on Wednesday, Reuters reported, citing a Pakistani source. The US will send Vice President JD Vance for the discussions, with the Iranian delegation sending uncertain signals about its participation."Various reporting suggests that Vice President Vance is expected depart to Islamabad today, and we also saw reporting by the New York Times and others that Iran is also sending a team to Islamabad for negotiations. With a spokesman for Iran's foreign ministry earlier saying that Tehran had no plans to attend the negotiations, this has given a more positive light on the talks going ahead, though it remains unclear who would lead the Iranian delegation," Deutsche Bank Research said in a note.Back at home, Saudi National Bank (SASE:1180), Riyad Bank (SASE:1010), Al Rajhi Bank (SASE:1120), and Arab National Bank (SASE:1080) posted their financial statements for the first quarter of 2026. All four stocks logged higher net profit and total operations profit for the three months ended March 31."SNB reported SAR6,423mn net income for 1Q26, 1.7% above consensus (Visible Alpha), 2.2% above BofAe, +0.6% QoQ. The bottom line was helped by net release of provisions (-32bpt CoR), which has offset lower than we had expected revenue and higher costs. In the balance sheet, loan growth came in moderate, while deposits accelerated, bringing Loan / Deposit Ratio down," BofA Global Research said.Saudi National Bank and Riyad Bank declined 2.40% and 0.23%, respectively, while Al Rajhi Bank closed 0.42% higher and Arab National Bank ended the session 1.58% in green.Meanwhile, Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions', shares rose 0.68% as it secured a project to design, upgrade, and provide equipment for Saudi Telecom (SASE:7010), d/b/a stc, data centers. Stc shares closed 0.05% higher.
Jefferies on Sunday reduced its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 103 Saudi riyals from 114 riyals, with an unchanged hold rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
