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SFC initiates coverage on additional Saudi petrochemical companies with ‘Buy’ recommendation for SIPCHEM, SAHARA, and TASNEE

: Thursday, July 03 - 2014 @ 09:27

SFC initiated coverage of additional Saudi petrochemical equities through a comprehensive and detailed report, in which equities of additional six petrochemical companies were covered.

Generally, the report maintains its optimistic outlook on the sector and expects momentum to improve. The report set the target prices for SIPCHEM at SAR36.5, SAHARA at SAR25.0, and TASNEE at SR38.0.

SFC commended the sector for its strong position in the global commodity chemicals market along with its low cost of production which leads to high profitability, cash flows and dividend yields.

The report covers the equities of Saudi International Petrochemical Company ‘SIPCHEM’, Sahara Petrochemical Company ‘SAHARA’, National Industrialization Company ‘TASNEE’, National Petrochemical Company ‘Petrochem’, Methanol Chemicals Company ‘CHEMANOL’ and Saudi Kayan Petrochemical Company ‘KAYAN’ and can be accessed on SFC’s website: www.sfc.sa

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Thursday, July 3- 2014 @ 9:27 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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