We recommend investors to increase exposure in SABIC, Yansab, Almarai, Aramex, Seef Properties and QNB as we expect them to outperform, while Du, APC and SAFCO
are expected to underperform.
NCB Capital remains Neutral on SAFCO
with a PT of SR157.
Board recommends distribution of SR 7 per share for second half of 2008
The coverage on SAFCO
was initiated with an CyOverweightCO rating and a fair value of SAR 289.
Under this valuation we have used 4-year (FY2008-FY2011) explicit forecast period for the Free Cash Flows (FCF) of SAFCO
and the YANSAB, in which Company has 1.
Singer served as President and Chief Executive Officer of SAFCO
Technologies, a wireless communications company.
Luis brings 14 years of wireless industry knowledge to the job, including experience with BellSouth International, Motorola, SAFCO
, Schema, Acterna, and PCTEL.
The report believes that doubling feedstock prices will impact Sipchem and SAFCO
the most as these companies are solely dependent on natural gas for their feedstock.
Singer served as CEO of SAFCO
Technologies and has held executive positions at Motorola and Tellabs.
Miller held various positions at Motorola, SAFCO
Technologies, and Agilent Technologies.
We worked with the PCTEL management team when they grew SAFCO
Technologies into a leading wireless management company," remarked Paul Kline, DTI's CEO and co-founder.
At one of these companies, SAFCO
, Visual Intercept provided immediate improvements in productivity and product quality and a return on investment in only 6-8 months.