Al-Rajhi Capital: Saudi Healthcare sector to grow in 2022

Five companies in Saudi healthcare sector will grow by 2.5% during the current year led by Mouwasat Medical Services which is estimated to rise more than 13%, Al-Rajhi Capital said.

The company expects that Dr Sulaiman Al-Habib Medical Group will record profit of SR 1.365 billion in 2022 and SR 1.426 billion in 2023, while Mouwasat shall report profit at SR 623 million this year and SR 742 million next year.

Dallah Health is expected to report profit of SR 288 million in 2021 then grows to SR 336 million during the next year, Care will profit SR 131 million in 2022 and SR 145 million in 2023.

Al-Rajhi remained “Neutral” with target price at SR205 of Al-Habib, at SR222 of Mouwasat, at SR95 of Dallah, SR78 for Care.