Research
AlphaMena Downgrades Saudi Steel Pipe to Reduce
AlphaMena on Tuesday downgraded welded steel pipes manufacturer Saudi Steel Pipe (SASE:1320) to reduce from add and kept its price target at 56.40 Saudi riyals.
SASE:1320
SASE:1320
9 stories mentioning SASE:1320Updated 21d ago
Every FINWIRES story that references SASE:1320, newest first.
What are analysts saying about SASE:1320?
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
What's the latest news on SASE:1320?
Asia Markets
Tadawul Shares End Week Lower; Saudi Arabia's July Construction Activity Ticks Down
Saudi equities closed the first trading week of August lower as investors tuned into the latest updates on the US-Iran conflict, as well as Saudi's latest economic release.At the close of Thursday trading, the Tadawul All Share Index closed 0.70% in the red. Out of the listed stocks, 63 closed higher, while 196 closed lower.In international news, Iran reportedly sent out warnings to Gulf region states regarding potential attacks if the US launched new attacks on the country, Reuters reported, citing sources.Further to this, Iran said that its proposed agreement with Oman regarding the operations of the Strait of Hormuz was progressing. Sources said that the agreement will reportedly give Iran control over ships that enter the Strait of Hormuz.Back at home, the seasonally adjusted alrajhi capital Saudi Construction Index declined to 55.2 in July from 56.3 in the prior month. The report from Alrajhi Capital and S&P Global showed that the month logged the country's fastest new order growth since February."The alrajhi capital Saudi Construction Index signalled another strong month for the Saudi construction sector in July, with business activity expanding for a third consecutive month. The improvement was supported by stronger new order growth, reflecting continued demand across the sector and the reactivation of previously delayed projects. While input costs continued to rise, cost pressures eased during the month," Alrajhi Capital Research Head Sultan Altowaim commented.On the corporate front, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco's, shares ticked down 0.90% as it lowered certain main crude oil prices for North American, North West European, and Mediterranean buyers in September.Meanwhile, Saudi Steel Pipe Co. (SASE:1320) and Riyadh Cement Co. (SASE:3092) reported lower net profit and revenue in the first half of 2026. Saudi Steel closed 2.86% lower, while Riyadh Cement shares were 1.72% higher.
^TASISASE:1320SASE:2222SASE:3092
Research
Sadif Reduces Saudi Steel Pipe's PT, Affirms Strong Buy Rating
Sadif Investment Analytics on Thursday lowered the price target for welded steel pipes manufacturer Saudi Steel Pipe Co. (SASE:1320) to 47.75 Saudi riyals from 56.86 riyals and kept its rating at strong buy.
SASE:1320
Equities
Saudi Steel Pipe Bags SAR92.7 Million Contract from Saudi Aramco
Saudi Steel Pipe (SASE:1320) received an order worth 92.7 million Saudi riyals from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The deal covers the delivery of oil and gas steel pipes for up to 10 months, the welded steel pipes manufacturer said Wednesday.
SASE:1320SASE:2222
Research
CI Capital Boosts Saudi Steel Pipe's PT, Affirms Overweight Rating
CI Capital on Wednesday increased the price target for welded steel pipes manufacturer Saudi Steel Pipe Co. (SASE:1320) to 70.50 Saudi riyals from 57.00 riyals and kept its rating at overweight.
SASE:1320
Research
AlphaMena Downgrades Saudi Steel Pipe to Reduce, Trims PT
AlphaMena on Wednesday downgraded welded steel pipes manufacturer Saudi Steel Pipe Co. (SASE:1320) to reduce from add and decreased its price target to 60.40 Saudi riyals from 61.80 riyals.
SASE:1320
Equities
Saudi Steel Pipe Wins SAR65 Million Contract from Saudi Aramco
Saudi Steel Pipe Co. (SASE:1320) secured a 65 million-Saudi-riyal contract from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The deal covers delivery of oil and gas steel pipes for up to 12 months, the welded steel pipes manufacturer said Monday.
SASE:1320SASE:2222
Research
AlphaMena Boosts Saudi Steel Pipe Co. PT, Affirms Reduce Rating
AlphaMena on Monday increased the price target for steel pipes manufacturer Saudi Steel Pipe Co. (SASE:1320) to 61 Saudi riyals from 52.80 riyals, while reiterating its reduce rating.
SASE:1320
Research
AlphaMena Lifts Saudi Steel Pipe's PT, Keeps at Reduce
AlphaMena on Thursday increased the price target for Saudi Arabian welded steel pipes manufacturer Saudi Steel Pipe (SASE:1320) to 52.80 Saudi riyals from 51 riyals and kept its rating at reduce.
SASE:1320
