6 stories mentioning SASE:2060Updated 26d ago
Every FINWIRES story that references SASE:2060, newest first.
Riyad Capital on Tuesday increased the price target for petrochemical company National Industrialization Co. (SASE:2060), d/b/a Tasnee, to 9 Saudi riyals from 8 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://www..com/contact-us)
Riyad Capital raised its price target for National Industrialization Co. (SASE:2060), d/b/a Tasnee, following the industrial and petrochemical company's first-quarter results."Tasnee recorded a net loss of SAR (341) mln, wider than our estimate of SAR (152) mln, driven by the SAR 299 mln share of loss from associates and JVs. Offsetting the operational weakness: a commercial-bank refinancing term sheet for the SAR 2.0 bln current portion of LT borrowings, extending maturity by 7 years beyond November 2026; the RITC SPA signed in 1Q26 with Tahweel for SAR 700 mln; and the initiation of idling of Furnace One at Jazan," Riyad Capital said in a first look note published Tuesday.Revenue for the three months ended March 31 came in at 495 million Saudi riyals, down 23.6% year over year and below the research firm's forecast of 585 million riyals. Analysts attributed the annual decline to the group's weaker-than-expected acrylic business performance."With current negative macro factors and Hormuz shipping exposure, but ample cash and several impairments in the rear-view mirror, we maintain our Neutral rating and raise our target price [to SAR9]," analysts added.
National Industrialization Co. (SASE:2060), d/b/a Tasnee, said Sunday that it swung to an attributable loss for the first quarter, while revenue declined year over year.Net loss attributable to shareholders of the issuer for the three months ended March 31 was 341.3 million Saudi riyals, compared with a profit of 895.8 million riyals earlier. Loss per share moved to 0.51 riyal from an EPS of 1.34 riyals.The Tadawul-listed petrochemical company's revenue was 495 million riyals, compared with 648.2 million riyals a year ago.
SNB Capital on Sunday decreased its price target for petrochemical company National Industrialization Co. (SASE:2060), d/b/a Tasnee, to 11.20 Saudi riyals from 12.00 riyals, while maintaining 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://www..com/contact-us)
Sadif Investment Analytics on Wednesday downgraded petrochemical company National Industrialization Co. (SASE:2060), d/b/a Tasnee, to hold from buy and decreased its price target to 9.575 Saudi riyals from 11.02 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://www..com/contact-us)
National Industrialization Co. (SASE:2060), d/b/a Tasnee, said Wednesday the scheduled maintenance at its ethylene and polyethylene plant was delayed due to global supply chain disruptions.The Saudi Arabia-listed petrochemical company will announce a revised start date in due course, adding that the financial impact of the shutdown will be reflected in its first and second-quarter earnings.Tasnee owns a 60% stake in the facility, which operates as a joint venture.