10 stories mentioning SASE:2330Updated 6d ago
Every FINWIRES story that references SASE:2330, newest first.
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
Al Rajhi Capital on Thursday lowered the price target for propylene and polypropylene products company Advanced Petrochemical Co. (SASE:2330) to 25.00 Saudi riyals from 37.00 riyals and kept its rating at neutral.
Goldman Sachs on Monday reduced its price target for propylene and polypropylene products company Advanced Petrochemical Co (SASE:2330) to 24.90 Saudi riyals from 28.70 riyals, with an unchanged neutral rating.
Riyad Capital maintained its neutral rating for Advanced Petrochemical Co (SASE:2330), with a 24.10 Saudi-riyal price target, after the company posted its second-quarter results.In the second quarter, the propylene and polypropylene products company logged an 18% annual increase in its revenue to 827 million riyals, broadly in line with the research firm's 916 million-riyal estimate, according to a first look note published Monday. Meanwhile, the company posted a net loss of 98 million riyals in the three-month period."Advanced reported a 2Q26 net loss of SAR (98) mln - SAR (78) mln excluding a one-time non-cash depreciation charge of ~SAR 20 mln related to preponed 2027 maintenance, which is roughly in-line with our SAR (71) mln estimate, a swing from net profit both Y/Y and Q/Q, driven by the aforementioned feedstock-led production disruption, a headwind we flagged ahead of results in our 2Q26 equity preview. With observed spreads holding and our medium-term Hormuz scenario unchanged, we await a volume recovery," analysts said.
SNB Capital on Tuesday decreased the price target for propylene and polypropylene products company Advanced Petrochemical Co. (SASE:2330) to 27.10 Saudi riyals from 37.20 riyals and affirmed its neutral rating.
HSBC on Wednesday raised the price target for propylene and polypropylene products company Advanced Petrochemical Co. (SASE:2330) to 28 Saudi riyals from 25 riyals and reiterated its hold rating.
Morgan Stanley on Tuesday lowered the price target for propylene and polypropylene products company Advanced Petrochemical Co. (SASE:2330) to 23.50 Saudi riyals from 27.50 riyals and reiterated its underweight rating.
Ubhar Capital Oman on Thursday upgraded propylene and polypropylene products company Advanced Petrochemical Co. (SASE:2330) to buy from hold, while decreasing its price target to 28.90 Saudi riyals from 37.80 riyals.
Advanced Petrochemical Co. (SASE:2330) said Monday its attributable net profit in the first quarter fell, while revenue grew year over year.Net profit attributable to shareholders of the issuer for the three months ended March 31 was 30 million Saudi riyals, compared with 72 million riyals earlier. EPS moved to 0.116 riyal from 0.277 riyal.The Tadawul-listed propylene and polypropylene products company's revenue was 1.08 billion riyals, compared with 614 million riyals a year ago.
Goldman Sachs on Wednesday lowered propylene and polypropylene products company Advanced Petrochemical (SASE:2330) to neutral from buy and decreased its price target to 28.70 Saudi riyals from 32 riyals.
Advanced Petrochemical Co. (SASE:2330) said Sunday that its estimated attributable net profit for the first quarter declined, while revenue increased year over year.The estimated net profit attributable to shareholders of the issuer for the three months ended March 31 was 30 million Saudi riyals, compared with 72 million riyals earlier. EPS moved to 0.116 riyal from 0.277 riyal.The Tadawul-listed propylene and polypropylene products company's revenue was 1.08 billion riyals, compared with 614 million riyals a year ago.
