Riyad Capital Revises Lumi Rental Co Price Target After Q2 Results; Buy Maintained

06:52 AM EDT, 08/10/2026 (MT Newswires) -- Riyad Capital updated its price target for Lumi Rental Co (SASE:4262) after the car rental company's second-quarter results. "We lower our target price to SAR 40 per share due to the weaker-than-expected performance, while maintaining our Buy recommendation. We believe the current pressures are temporary and do not change our positive long-term outlook, supported by the sector's strong fundamentals. In our view, the decline in the share price presents an attractive buy opportunity," analysts said in a Sunday first look note. For the reporting quarter, the company logged a 5% year-over-year decline in revenue to 394 million Saudi riyals, which aligned with Riyad Capital's forecast of 375 million riyals. The company's net profit of 11 million riyals missed the research firm's 40 million-riyal forecast and the consensus estimate of 39 million riyals.