United Securities Tweaks Catrion Catering Price Target, Forecasts Post-Q2 Results

06:28 AM EDT, 09/02/2026 (MT Newswires) -- United Securities updated its price target and estimates for Catrion Catering Holding (SASE:6004) following the company's second-quarter results. The airline catering and support services company logged a 28.5% year-over-year decline in net profit to 47 million Saudi riyals for the second quarter, which United Securities said Tuesday underperformed its estimates. Revenue rose 20% annually to 688 million riyals, surpassing the research firm's forecasts by 14%. "While revenue exceeded our forecast, profitability and overall margins fell short of expectations due to higher-than-expected costs. Accordingly, we raise our 2026e revenue estimate to SAR 2.8bn (from SAR 2.64bn) and reduce net profit to SAR 321mn (from SAR 361mn). Given persistent geopolitical tensions, growth risks remain elevated amid lower airspace activity. We therefore lower our target price to SAR 75 (from SAR 77 per share), implying a 5.2% upside from current levels, and retain our HOLD rating," analysts wrote.