Riyad Capital Lowers Alhasoob Co. Price Target Post-H1 Earnings

05:41 AM EDT, 09/21/2026 (MT Newswires) -- Riyad Capital lowered its price target on Alhasoob Co. (SASE:9522) following the release of the company's earnings report for the first half, according to a first look note published Sunday. For the six-month period, the office electronics retailer logged a 50% annual rise in net profit to 2.9 million Saudi riyals, aligning with Riyad Capital's estimate. Revenue, meanwhile, was 21% higher year over year to 153 million riyals, which slightly missed the research firm's forecast. "In April 2026, Alhasoob announced the signing of a three-year framework agreement with Tatweer company for Educational Technologies to supply spare parts to Ministry of education locations across the Kingdom, the contract is valued at SAR 15 mln, with the financial impact expected to begin in 2H26. We lower our target price from SAR 44.00 to SAR 37.50, as we see limited near-term catalysts supporting further upside. Accordingly, we maintain our Neutral recommendation," analysts said.