Petrochemical maker SABIC jumps on Q2 profit
Aug 1 (Reuters) -** Shares of Saudi Basic Industries Corp (SABIC) 2010.SE rise 5.1% to 83.1 riyals in early trade
** The petrochemical maker on Thursday reported an 85% surge in Q2 net profit following improvement in average selling prices
** The co reported Q2 net profit of 2.18 bln riyals ($581.04 million), up from 1.18 bln riyals a year earlier
** Of 16 brokerages covering SABIC, 7 rate the stock as "buy" or higher, six "hold", two "sell"; median PT is 90 riyals - LSEG Data
** Including session's gains, stock down 3% YTD
($1 = 3.7519 riyals)
Reporting by Ateeq Shariff in Bengaluru
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