Analysts’ Recommendations and Expectations

The Saudi Arabian stock market continues to rally during the last period, with analysts’ recommendations for stocks and their expectations for the market rising.

For Saudi-listed stocks, out of 233 companies, 44 were rated buy-buy, representing 20% ​​of listed companies, led by Mahara, according to Bloomberg analyst recommendations and Al-Ahli Bank, Extra and Ground Services, with expected growth of more than 20%.

58 companies received a Hold rating, representing 26% of companies.

The number of companies rated “sell” was about 19 companies, which is only 9% of the companies.

As for the remaining 102 companies, they are not covered by the local ones.

Market Index Target Level

The target level of the market index for a period of 12 months, analysts have set at 13,005 points, i.e. 12.8% above the current market level of about 11,550 points.

Market Growth

It is noteworthy that only in June the market grew by more than 5%, and since the beginning of the year it has grown by more than 10%.