United Securities Tweaks Flynas Price Target, Earnings Forecast Post-Q2 Results

02:59 AM EDT, 09/08/2026 (MT Newswires) -- United Securities updated its price target for Flynas (SASE:4264), with a retained hold rating, following the company's second-quarter results. "Flynas remains well positioned to manage near-term volatility while continuing to invest in fleet and network expansion," analysts wrote in a Monday note. "Given persistent geopolitical tensions, management continues to suspend its full-year 2026 guidance, while 3Q 2026 guidance points to low to high single digits YoY revenue growth and an EBITDA margin in the mid-teens to mid-20s. Based on the current results and guidance, we reduce our 2026e revenue forecast to SAR 8.4bn (from SAR 8.6bn) and decrease net profit to SAR 39mn (from SAR 338mn). Accordingly, we lower our target price to SAR 52 (from SAR 56/share)." For the three-month period, the Saudi airline logged a net loss of 241 million Saudi riyals, "significantly below" United Securities' estimate of a profit of 39 million riyals. Revenue rose 3.2% annually to 2.2 billion riyals, which is "broadly in line" with the research firm's forecast.