The second quarter results of Sahara International Petrochemical Co. (Sipchem) exceeded expectations, Riyad Capital said in a note.

 

The company maintained “buy” recommendation with a target price of SAR 24 per share.

 

Sipchem registered sales of SAR 1.4 billion in Q2 2019, beating Riyad Capital’s estimates of SAR 1.3 million as the company cited higher sales volume, especially for methanol.

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