SNB Capital Notes Nahdi Medical's 'In-line' Q3 Results

09:42 AM EDT, 10/28/2026 (MT Newswires) -- SNB Capital Research took note of Nahdi Medical's (SASE:4164) "in-line set" of earnings in the third quarter in an analysis published Wednesday. Thanks to "strong" performances across its business units, the retail pharmacy and healthcare company logged a 9.4% annual growth in revenue to 2.69 billion Saudi riyals, which slightly surpassed SNB Capital's forecast of 2.60 billion riyals. Net income, meanwhile, rose 6.5% year over year to 172 million riyals, compared with the 174 million-riyal estimate of the research firm. "Based on our last update, we are Overweight on Nahdi with a PT of SAR109.5. Continued topline growth remains the key positive, while we believe margin contraction and persistent pressure from opex investments are a near-term concern. However, we view these investments as supportive of LT growth, as it would move Nahdi away from its previous business structure that relied solely on retail, which carries higher margins but faces higher competition. We view Nahdi's diversification as favourable," analysts wrote.