Research keeps Almarai at Neutral with 48 Riyal target

The Riyad Capital Company has maintained its "Neutral" recommendation for Almarai's stock, with a target price of 48 Saudi Riyals over the next 12 months, despite the company reporting profits that are in line with expectations. Revenue growth of 11% reached 6.2 billion Riyals, supported by sales in the poultry, beverages, and expansion projects sectors. However, profit margins have declined due to rising shipping and feed costs, with gross income falling to 1.8 billion Riyals, a decrease of 29.7%. Net profit declined by 3% to 618 million Riyals in the third quarter of 2026. Expectations indicate continued margin pressures in the near term, while the focus remains on cost control and supporting expansion in the poultry sector.

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