Budget Saudi to cut investments in 2017; BoD expects strong performance in 2017
Budget Saudi [4260.SE] announced that due to current economic conditions in the region, the company will not invest in expansions in 2017. In addition, Budget’s management will reconsider its foreign investment and the extent of its impact on the company's results in order to take immediate action in the absence of positive results from these investments. On another note, according to estimates and financial studies, the company’s Board of Directors (BoD) is expecting Budget to achieve strong performance in 2017. (Mubasher) Budget Saudi: SAR29.52 as of 22 January 2017, Rating: Buy, TP: SAR38.00 per share, MCap: USD480mn, BUDGET AB / 4260.SE
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