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Albilad Capital ups STC fair value to SAR 69 [Mubasher (Saudi Arabia)](Mubasher (Saudi Arabia) Via Acquire Media NewsEdge) Albilad Capital has stated that Saudi Telecom Co.'s (STC) financial results for the first half of 2104 showed growth in net profits when compared to the first half of 2013. Additionally, the telco has experienced positive performance in net, gross and operating profits when comparing the financials of Q2-14 to the previous quarter. STC has also shown improved performance in net profits in Q2-14 as compared to Q2-13. The Gulf's biggest telecommunications operator by market value reported SAR 2,803 million net earnings for Q2, leaping 96.15% y/y from SAR 1,429 million and 17.23% q/q from SAR 2,391 million. Albilad expects the company to maintain the same profitability levels after exiting its unsuccessful international investments. Thus, the research firm raised the stock's fair value to SAR 69, with a 'Neutral' recommendation. ; All Rights Reserved - Mubasher Info (c) 2014 Provided by SyndiGate Media Inc. (Syndigate.info). |