Tuesday, Jul 05, 2011
0705 GMT [Zawya Dow Jones]--Credit Suisse raises Almarai Co. to outperform, from neutral rating previously. Increases its target price to SAR113 versus SAR109. Ups 2011 and 2012 EPS expectations by 3% and 5% to SAR5.92 and SAR7.18, respectively, on the back of announced price increases of milk and laban. "With staple price increases being highly politically sensitive, we believe that the price increases announced by Almarai, the market leader in dairy staples, points to an increasingly comfortable and accommodating stance on government's behalf." Shares closed -1.3% at SAR96.25 Monday. (nikhil.lohade@dowjones.com)
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(END) Dow Jones Newswires
05-07-11 0706GMT
