Buying Craze for Saudi Telecom Stocks Has Analysts Frowning (Bloomberg)

•  Zain, Mobily are the best performers in main index in 2019
•  Analysts say many retail investors are betting on dividends but most analysts see the gain as unsustainable.

Mobile Telecommunications Co., or Zain KSA, and Etihad Etisalat Co. have risen more than 43% this year, almost three times the advance in the main Saudi index. Analysts surveyed by Bloomberg are skeptical and have average target prices for the stocks that indicate a discount of about 10% and 20% from their current values, respectively. READ MORE

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