This update by RBS post Norfolk's lastest FY12 results;
SHARE CAFE COMMENTARY NFK - RBS Australia rates the stock as Buy BY BROKER NEWS - 25/05/2012 Get More Commentary, Dicussion & Market Information On - • NFK - NORFOLK GROUP LIMITED
RBS Australia rates the stock as Buy -
The broker notes the 1H result came in at the bottom of the guidance range, although still in line with RBS. However, the broker sees any issues as being temporary, not structural and blames the number of new projects the company has kicked off.
The record order book looks great, says RBS, who sees solid support for FY13 forecasts. With shares trading at just 3.8x earnings, the broker sees compelling value on offer. Buy call and target maintained.
Sector: Commercial Services & Supplies.
Target price is $1.49.Current Price is $1.01. Difference: $0.48 - (brackets indicate current price is over target).
If NFK meets the RBS Australia target it will return approximately 32% (excluding dividends, fees and charges - negative figures indicate an expected loss).
NFK Price at posting:
98.0¢ Sentiment: Buy Disclosure: Held
