United Securities Tweaks Spimaco Price Target After Q2 Results

05:49 AM EDT, 08/10/2026 (MT Newswires) -- United Securities LLC raised its price target for Saudi Pharmaceutical Industries and Medical Appliances Corp. (SASE:2070), d/b/a Spimaco, after the pharmaceutical manufacturer's second-quarter results. For the three-month period, Spimaco logged a 23% year-over-year rise in revenue to 493 million Saudi riyals, surpassing United Securities' forecast by 19.2%, according to a Sunday note. The reported revenue was the company's highest-ever in the past 12 quarters. Net profit grew 93.8% annually to 70 million riyals, missing the research firm's forecast by 3.7%. "Following the 2Q26 results, we broadly maintain our 2026e revenue and earnings estimates, and marginally raise our target price to SAR 32.64 per share. At current levels, we believe the stock is fairly valued, with the share price largely reflecting both the near-term domestic market slowdown and the company's longer-term recovery potential. Accordingly, we maintain our Hold rating on SPIMACO," analysts wrote.