06:39 AM EDT, 10/22/2026 (MT Newswires) -- Riyad Capital raised its investment view on Saudi Kayan Petrochemical (SASE:2350) following the release of the company's third-quarter financial statements. "We upgrade Kayan to Neutral from Sell and raise our target price to SAR 4.25 from SAR 4.00. Kayan's share price has declined roughly -19% since our October 2025 downgrade, but current market dynamics and the Company's position as a SABIC subsidiary make the stock, at SAR 4.84, less asymmetric to the downside. Our target remains -1.15x forward book value, now assuming quarterly losses revert to around SAR (570) mln as the provision reversal and the feedstock lag fall away, between our 3Q26 estimate and the 2Q26 run-rate," analysts wrote on Thursday. Thanks to a recovery in sales volume, the company logged a 2% annual increase in sales to 2.19 billion Saudi riyals, aligning with the 2.22 billion-riyal estimate of Riyad Capital. Net loss, meanwhile, was 94 million riyals, against the research firm's forecast of a 424 million-riyal loss.

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