United Securities Revises Al Rajhi Bank Price Target Post-Q3 Earnings

05:40 AM EST, 11/10/2026 (MT Newswires) -- United Securities LLC updated its price target for Al Rajhi Bank (SASE:1120) as the lender's third-quarter earnings matched expectations. The bank's net income rose 12% annually, in line with United Securities' estimates, with the growth supported by Al Rajhi Bank's higher operating profits despite additional provisions, according to a Tuesday note. Operating income increased 13% year over year to 11.1 billion Saudi riyals, also in line with the research firm's expectations. "ARB's operating income and net income were in line with our expectations. However, we forecast NIM pressure in 4Q26 and provisions to remain elevated. Management maintained its guidance across key operating parameters, following minor adjustments to its loan growth and cost-of-risk guidance in the previous quarter. We maintain our BUY rating and revise our target price to SAR 71/share," analysts wrote.