stc stock\s target price put at sr 548
Last Updated : GMT 22:33:09
Arab Today, arab today
Arab Today, arab today

STC stock\'s target price put at SR 54.8

Arab Today, arab today

Arab Today, arab today STC stock\'s target price put at SR 54.8

Riyadh - Arabstoday

A specialized financial report foresees Saudi Telecom Company (STC) stock’s 12-month target price at SR 54.8, yielding a potential upside of 36.9 percent, based on its strong financial performance for the 2012 fiscal year, spurred by the company’s focus on development in the local market, especially in broadband services. The report also pointed out the company’s operational efficiency and expansion policy, which provides an opportunity to capture added value in the long run. The report, commissioned by Aljazira Capital – the investment arm of Bank AlJazira, estimated the dividend at SR 2.0 per share by the end of the 2012 fiscal year, resulting in a dividend yield of about 5 percent compared to the current price per share. According to the report, STC’s commitment to employing the latest technologies such as fiber optics will enhance the company’s competitiveness in broadband, and consequently increase revenues from wireless broadband data exchange services by 88 percent during the second quarter of 2012, compared to the same period from last year. The report added that the growth of services in the data sharing sector will continue to be the main factor in the development of STC’s operations in the mid and long runs, taking into consideration the company’s continuous efforts to introduce innovative solutions, which resulted in increasing the number of its customers by more than 200 percent. The report also predicted that STC will continue to post revenues from its international operations, referring to the growth in the company’s international revenue by 57 percent in Q2 2012, compared to the same period from last year, as result of a larger customer base, and expansion of the company’s networks in Indonesia and South Africa, in addition to successful operations of its regional subsidiaries like Viva Kuwait and Viva Bahrain. Aljazira Capital, a Saudi Closed Joint Stock company operating under the regulatory supervision of the Capital Market Authority, is specialized in securities business providing the services of dealing, underwriting, managing, arranging, advisory, and custody. Aljazira Capital operates under the supervision of a Shariah Supervisory Board. From : Arabnews

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