Yes, the Morningstar SP valuation is a joke on FPH. It is embarrassing that they went from $11 to $16.4. What systematic risk review are they talking about? Clearly just made something up to save face. FPH has always been a low risk business.
Their $11 valuation was too low. They failed to update it for a year. It should have been changed to $12 based just on the growth rate of around 10% in NPAT over the year and probably more from a falling NZD/USD.
Safe to say that the SP has significant support around 15.00 NZD and will only go below this on negative news from the company (re-opening of cases with Resmed for example (very unlikely)) or a broad market sell-off like we had in December 2018.
Yes, the Morningstar SP valuation is a joke on FPH. It is...
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Last
$28.82 |
Change
-0.090(0.31%) |
Mkt cap ! $16.83B | |||
| Open | High | Low | Value | Volume |
| $28.70 | $28.85 | $28.32 | $35.46M | 1.238M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 10792 | $28.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.83 | 2342 | 3 |
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| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| FPH (ASX) Chart |