08:18 AM EST, 11/02/2026 (MT Newswires) -- Riyad Capital changed the price target on Lumi Rental (SASE:4262) as it took note of the company's third quarter earnings in a Monday first-look note. "We lower our target price to SAR 30 per share while maintaining our Buy rating. We believe the current pressures are temporary and do not alter our positive long-term outlook, which is supported by the sector's strong fundamentals. We also view the share price decline as an attractive buying opportunity," analysts wrote. Thanks to higher lease and used car revenues, the car rental company logged a 12% annual increase in sales to 462 million Saudi riyals, surpassing Riyad Capital's forecast of 420 million riyals. Net profit declined 79% year over year to 11 million riyals, which missed the 14.4 million-riyal estimate of the research firm and the market consensus of 13.8 million riyals.

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