United Securities Tweaks Almarai Co Price Target After Q3 Earnings Beat

05:40 AM EDT, 10/12/2026 (MT Newswires) -- United Securities LLC revised its price target for Almarai Co (SASE:2280), with an unchanged buy rating, as it took note of the company's third-quarter financial results. For the third quarter, the food and beverage company logged an 11.4% annual rise in revenue to 6.2 billion Saudi riyals, surpassing United Securities' estimate by 4.6%, according to a Sunday note. Net profit was "broadly flat" at 618 million riyals, which beat the research firm's forecast by 3.9%. "While we expect slightly better revenue growth for full year 2026e than earlier envisaged, we expect the bottom line to remain unchanged. The company will incur higher working capital expenses on account of rising inventory levels while on the other hand cash flows are likely to improve as capex peaks out. Based on the latest results and the rising risk premium we reduce our target price to SAR 49.50 per share," analysts wrote.