06:21 AM EDT, 07/31/2026 (MT Newswires) -- AlJazira Capital reiterated its overweight rating on Saudi Telecom Co (SASE:7010), d/b/a stc, with a price target of 49.6 Saudi riyals, following the company's second-quarter results. The telecommunications company posted a net profit of 3.62 billion riyals for the three months ended June 30, down 5.2% year over year and in line with the research firm's forecast of 3.8 billion riyals, according to a Thursday note. On the other hand, revenue climbed 3.7% annually to 20.17 billion riyals, against AlJazira's estimate of 20.1 billion riyals. "STC's results were broadly in line with expectations. The company's topline growth remains moderate and stable while gross margin remains under pressure. However, controlled OPEX supports EBITDA margin expansion. The recovery in the Business unit and consistent expansion in both mobile and fixed subscriber base are key positives for the company," analysts said.

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