During yesterday’s analyst briefing, Faber’s management elaborated on its FY10 financial performance as well as provided updates on the company. Based on management’s response to questions related to its existing hospital support services (HSS) concession, we maintain our view that the contract will be renewed and would be announced in a matter of time. We maintain our Trading Buy recommendation on Faber at an unchanged TP of RM3.02 based on SOP valuation.
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