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NewsRHB Research maintains Buy on Favelle Favco, fair value RM3.35
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RHB Research maintains Buy on Favelle Favco, fair value RM3.35
by Cals Wed 12 Jun 2013, 10:00
RHB Research maintains Buy on Favelle Favco, fair value RM3.35
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 12 June 2013 09:56
A + / A - / Reset
KUALA LUMPUR (June 12): RHB Research has maintained its Buy rating on Favelle Favco Bhd at RM2.43 with a fair value of RM3.35 after the company said it had received purchase orders or letters of intent worth RM161.1 million that will boost its total year-to-date orders to RM315.9 million.
In a note June 11, the research house said it remains positive on the company’s prospects as it will benefit from heightening oil & gas and CONSTRUCTION [] activities in the region.
“We reiterate our Buy call, with an unchanged fair value of RM3.35, pegged to a conservative 10x FY13 EPS,” it said.
At 9.41am, Favelle was the among the top gainers and rose 13 sen to RM2.56.
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 12 June 2013 09:56
A + / A - / Reset
KUALA LUMPUR (June 12): RHB Research has maintained its Buy rating on Favelle Favco Bhd at RM2.43 with a fair value of RM3.35 after the company said it had received purchase orders or letters of intent worth RM161.1 million that will boost its total year-to-date orders to RM315.9 million.
In a note June 11, the research house said it remains positive on the company’s prospects as it will benefit from heightening oil & gas and CONSTRUCTION [] activities in the region.
“We reiterate our Buy call, with an unchanged fair value of RM3.35, pegged to a conservative 10x FY13 EPS,” it said.
At 9.41am, Favelle was the among the top gainers and rose 13 sen to RM2.56.
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