Market analyst: rising Saudi stocks and improved liquidity boost optimism
Saudi market analyst Saud Al-Mutair says lower P/E ratios and strong corporate earnings are increasing investor confidence in the Saudi stock market.
Key Takeaways
AISaudi market analyst Saud Al-Mutair said that the growing attractiveness of the market, alongside declining price-to-earnings ratios to below 14—and even 7 to 9 for some promising companies—is boosting investor optimism.
In an interview with Al Ekhbariya TV, he added that listed companies saw strong profit growth in 2022 and 2023, with notable increases in quarterly financial results.
Al-Mutair also noted that while banks have stopped achieving new record profits, their results remain close to second-quarter levels.
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