EFG-Hermes reiterates positive view on Almarai stock after Q3 results

Published on 10/21/2026 at 12:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

United Securities cut its target to SAR 49.50 on October 12, 2026. Almarai stock posted SAR 6.19 billion Q3 revenue, up 11 percent.

Analyst view and operating growth

EFG-Hermes reiterated a positive view on October 19, 2026.
Third-quarter revenue reached SAR 6.19 billion on October 4, 2026.
Almarai stock was trading at SAR 41.08 on October 21, 2026.

Almarai, SA000A0ETHT1, Illustration mit AI erstellt.

Almarai (ISIN SA000A0ETHT1) had EFG-Hermes reiterate a positive view on October 19, 2026, according to Zonebourse. The latest quarterly figures show a sharp split between sales growth and profit growth.

EFG-Hermes keeps its positive view

The October 19, 2026 analyst update followed a third-quarter performance in which revenue grew faster than earnings. MarketScreener reported that EFG-Hermes reduced its price target while affirming a Buy rating. United Securities had also cut its target to SAR 49.50 after the quarterly earnings beat, according to Finimize on October 12, 2026.

Revenue grew faster than profit

Almarai reported third-quarter revenue of SAR 6.19 billion on October 4, 2026, up 11 percent from SAR 5.55 billion in the same quarter of 2025. Net profit reached SAR 617.8 million, up 1 percent from SAR 613.2 million, as higher feed shipping, distribution and energy costs absorbed much of the sales benefit, according to Almarai.

For the first nine months of 2026, revenue rose 10 percent to SAR 18.22 billion from SAR 16.61 billion. Net profit for that period was SAR 1.99 billion, broadly stable year over year. The figures make cost control the central question for the next earnings cycle.

Three dated steps shaped the story

On October 4, 2026, Almarai reported third-quarter revenue of SAR 6.19 billion and net profit of SAR 617.8 million, as Almarai disclosed. On October 12, 2026, United Securities cut its target to SAR 49.50, according to Finimize. On October 19, 2026, EFG-Hermes reduced its target and retained a Buy rating, as reported by MarketScreener.

What does the latest price show?

Almarai was trading at SAR 41.08 on the Saudi Exchange on October 21, 2026 at 12:44 p.m. AST. The quote implies a market capitalization of SAR 40.8 billion on the same date. The stock's valuation remains tied to whether revenue expansion can translate into stronger profit growth as feed, energy and distribution costs change.