United Securities Tweaks Price Target for Saudi Arabia's Solutions After Q2 Results

02:29 AM EDT, 09/07/2026 (MT Newswires) -- United Securities LLC updated its price target for Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions, following the company's second-quarter results. The information and communication technology services company reported an 11.7% year-over-year increase in revenue to 3.24 billion Saudi riyals, "slightly above" United Securities' estimate, according to a Sunday note. Net profit grew 1.6% annually to 455 million riyals, surpassing the research firm's forecast by 16%. "Solutions maintains a leading position in KSA's IT service market, supported by long term relationships with key public and private sector clients," analysts said. "Revenue, profitability and margins across the board outperformed forecasts. Accordingly, we increase our 2026e revenue forecast to SAR 13.65bn (from SAR 13.54bn) and net profit to SAR 1.64bn (from SAR 1.59bn). We therefore raise our target price to SAR 250/share (from SAR 241), implying an upside potential of 15% from current levels and retain our BUY rating."