KUALA LUMPUR: OSK Research is maintaining its Trading Buy on FABER GROUP BHD [] with an unchanged target price of RM3.02 after tyhe company announced it would spearhead the proposed Energy Performance Management System (EPMS) project.
OSK Research said on Wednesday, March 9 that as the project is still at an early stage, it had not factored in any revenue contribution in its forecast. Nevertheless, it believes the project will enhance Faber's future earnings.
'We maintain our TRADING BUY recommendation at an unchanged TP of RM3.02 based on SOP valuation. We still think that Faber should get its existing concession renewed in view of its track record and excellent execution of the existing concession, which should provide the upward catalyst for its share price,' it said.
OSK Research said on Wednesday, March 9 that as the project is still at an early stage, it had not factored in any revenue contribution in its forecast. Nevertheless, it believes the project will enhance Faber's future earnings.
'We maintain our TRADING BUY recommendation at an unchanged TP of RM3.02 based on SOP valuation. We still think that Faber should get its existing concession renewed in view of its track record and excellent execution of the existing concession, which should provide the upward catalyst for its share price,' it said.
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