06:59 AM EDT, 08/05/2026 (MT Newswires) -- Riyad Capital lowered its price target on Saudi Basic Industries (SASE:2010), d/b/a Sabic, after the petrochemicals manufacturer's second-quarter performance. "We maintain our Neutral rating and lower our target price to SAR 50.00 oncontinued adjustment challenges. We believe 2Q26 marks the volume trough; the medium term includes a logistical adjustment phase (which we detail in our forthcoming sector update), while 3Q26 carries its own questions - realized prices could fade on mean-reversion as supply returns, even as feedstock costs and elevated shipping and insurance rates prove sticky, pressuring margins from both ends," analysts said Tuesday. For the three-month period, the company logged a loss of 830 million Saudi riyals, which was "broadly in line" with Riyad Capital's estimate of 310 million riyals. Sales, on the other hand, declined 18% year-over-year to 24.81 billion riyals, surpassing the research firm's 21.03 billion-riyal forecast.

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