United Securities Updates Aldrees Price Target After Q2 Earnings Beat
United Securities upgraded its price target and 2026 estimates on Aldrees Petroleum and Transport Services (SASE:4200) following the company's second-quarter performance.For the three-month period, the gasoline service station operator's net profit rose 24.4% year over year to 123 million Saudi riyals, which surpassed United Securities' estimate by 15%. Revenue also climbed 18% year over year to 7.33 billion riyals, 5.4% above the research firm's forecast, according to a Wednesday note."Aldrees continues to show operational resilience, delivering broad based beats on revenue and gains in market share," analysts wrote. "We expect volume driven growth to keep the revenue momentum at double digits. Based on the current result we upgrade our 2026e expected revenue and profit estimates to SAR 30.1bn and SAR 502mn. We also revise our target price is upwards to SAR 139.66 per share, implying 15.4% upside from the current price. Accordingly, we provide a BUY rating to Aldrees."
