March 16, 2011

FABER - OSK Research maintains Buy on Faber, TP RM3.02

Stock Name: FABER
Company Name: FABER GROUP BHD
Research House: OSK

KUALA LUMPUR: OSK Research is maintaining its Trading Buy recommendation at an unchanged TP of RM3.02 based on a sum-of-part valuation.

The research house said on Wednesday, March 16 its current valuation for Faber is based on the assumption that the concession will be renewed based on the existing terms and rates.

OSK Research said during Tuesday'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,' it said.

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