Thursday, Jun 14, 2012
0917 GMT [Zawya Dow Jones]--NCB Capital upgrades Saudi Electricity to overweight rating and raises the price target by 3.5% to SAR15.8 a share due to the company's stable outlook and the recent decline in stock price of nearly 21%. "We believe the current valuation on the stock offers an attractive entry point for investors," NCB says. Assumes, however, that industry tariffs will not change, and warns that an increase in tariffs could potentially have a significant impact on valuation. Shares closed Wednesday +4% at SAR12.95.
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