Feb 06 2012 |
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STC rings up higher returns
Deutsche Bank has renewed its positive outlook for Saudi Telecom Co. ( STC ) shares. It recommends STC 's share price at SR48.The STC share is poised to realize higher returns, during this year, the bank added.
Deutsche Bank has raised its expectations, based on STC results which came above all expectations, notably in the domestic market, due to better pricing, attractive assessment, steadily rising dividends in addition to other various attractions related to its resources and edges, according to a statement from STC .
It also highlighted STC 's distinct ability to provide various features.
In its analysis of the prices on the Saudi stock exchange, the research department at Deutsche Bank has reaffirmed the growing strength of the Saudi telecom sector.
It said the sector is moving toward a strong position, driven by higher broadband usage, which rose by 30 percent in the first nine months of last year.
© Arab News 2012
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