United Securities Updates SAL Saudi Logistics Services Forecasts After Q2 Earnings; Hold Rating Retained

02:24 AM EDT, 08/17/2026 (MT Newswires) -- United Securities LLC raised its earnings forecasts for SAL Saudi Logistics Services (SASE:4263) following the company's second-quarter results. "Given the stronger-than-expected revenue and profitability, with gross and EBIT margins also outperforming our forecasts, we raise our 2026e revenue forecast to SAR 2.15bn (from SAR 1.9bn) and increase our net profit to SAR 803mn (from SAR 736mn)," analysts said Sunday. "However, given persistent geopolitical tensions, we retain our target price of SAR 187, implying 9% upside from current levels and maintain our HOLD rating on the stock." For the three-month period, the logistics company reported an 18% yearly increase in net profit to 191 million Saudi riyals, which "outperformed" United Securities' estimates by 11%. Revenue rose 30% year over year to 512 million riyals, surpassing the research firm's projection by 12.6%.