Budget Saudi Price Target, Estimates Tweaked as United Securities Notes Q2 Results

08:10 AM EDT, 09/09/2026 (MT Newswires) -- United Securities LLC cut its price target on United International Transportation Co. (SASE:4260), d/b/a Budget Saudi, as it took note of the company's second-quarter results in a Wednesday note. For the second quarter, the vehicle leasing and rental services company's net profit rose 10.4% annually to 92 million Saudi riyals, surpassing United Securities' forecast. Revenue rose 17% year over year to 638 million riyals, which was 29% above the research firm's estimate. "Based on the current results, we raise our 2026e revenue forecast to SAR 2.6bn (from SAR 2.4bn), while retain our net profit of SAR 290mn, given continued cost pressures. Despite the revenue and profit outperformance, growth risks remain elevated amid ongoing geopolitical tensions and their impact on rental demand and utilization. Accordingly, we reduce our target price to SAR 34 (from SAR 37), implying an upside of 8.70% from current levels, and retain our HOLD rating," analysts wrote.