Strategy Note /
Saudi Arabia

2022 Saudi Equity Strategy – Steering Through Volatility

  • We believe the outlook is muted for EM due to strong US$, regulatory changes and slower economic growth in key economies

  • We believe TASI will trade between 10,600 to 12,400 points in 2022f, reflecting a dividend yield of 2.5-3.0%

  • We prefer the Banking and Construction sectors, along with an exposure to REITs as an inflation hedge

2022 Saudi Equity Strategy – Steering Through Volatility
Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
2 January 2022
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