Riyad Capital Lifts Banque Saudi Fransi Rating to Buy Post-Q3 Results

08:44 AM EDT, 10/21/2026 (MT Newswires) -- Riyad Capital upgraded its rating on Banque Saudi Fransi (SASE:1050) as it took note of the lender's third-quarter financial statements. "BSF's valuation discount to peers has narrowed significantly, from an average discount of 27% over the past two years to 17% currently. Nevertheless, the stock continues to trade at an attractive FY27P/BV of 1.0x, compared with the sector average of 1.2x. Accordingly, we upgrade BSF to Buy while maintaining our target price, as the recent share-price weakness offers an attractive entry point, supported by solid fundamentals and a 6.0% dividend yield," analysts wrote in a Tuesday note. For the reporting period, net income rose 12% year over year to 1.51 billion Saudi riyals, "almost matching" Riyad Capital's estimate of 1.54 billion riyals. The stock has a price target of 22 riyals.