Aljazira Capital Maintains Rating on SAL Saudi Logistics Services After Q2 Earnings Beat

07:27 AM EDT, 07/29/2026 (MT Newswires) -- Aljazira Capital kept its neutral investment rating on SAL Saudi Logistics Services (SASE:4263) after the logistics company's second-quarter results exceeded expectations. "SAL posted a strong Q2-26 performance, beating our expectations. The performance was partly supported by strong recovery in air cargo activity after disruption in the previous quarter. This potential supported strong demand and better per Kg realization. We expect normalization in Q3-26, while volumes will be supported by multiple new agreements signed over Q2-26 and Q3-26 such as Fly Khiva, Centrum Air, Singapore Airlines and SF Airline," analysts said in a Wednesday note. For the three-month period, the company logged an 18% year-over-year increase in net profit to 191 million Saudi riyals, ahead of Aljazira Capital's forecast of 172 million riyals. Revenue also increased year over year to 512 million riyals, above the research firm's 469 million-riyal estimate. The stock has a price target of 186 riyals.