Mubasher: QNB Research rose the price target (PT) for Industries Qatar to QAR 126 per share, from QAR 109, and maintained its “hold” recommendation.
The new PT is 4.5% lower than the current market price, as the stock is trading at QAR 132.
QNB also rose its expectations for the company’s profits to QAR 5.1 billion in 2018, after the strong performance achieved in the first and second quarter of the year, projecting earnings per share at QAR 8.44.
Industries Qatar is expected to achieve a 72.6% year-on-year growth in net profits during the third quarter, the bank said in a research note on Wednesday.
