BCR is reserved regarding FP

Posted: January 28, 2011 in Burse
Tags:

“We reached a fair NAV/share of RON 1.03, based on our conservative SOTP approach, to which we applied a 30% discount. We thus have a target price of RON 0.72/share and an Accumulate recommendation on the stock, which prices in the country’s risk profile and the weaknesses of Fondul Proprietatea (PF) portfolio.
Our target price will move upwards, corresponding to a lower discount in the case of concrete signs of improving governmental actions related to strategic companies from FP portfolio. On the other hand, the will of investors who acquired shares on the grey market to mark their capital gains should cap the upside potential of FP shares at least on the short term.” Mihai Căruntu, Head of capital markets research department from BCR

Detailes : 2011-01-27_RO_CR_Fondul_Proprietatea

Comments
  1. foarte bun raportul BCR

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s