Ann: FPH Confirms Full Year Results to be Released on 29 June, page-32

Good result. I think the guidance for next year is conservative. They have said that the guidance is based on the assumption that covid patients peak at the end of the first quarter (tomorrow is the last day of this quarter) - something we know isn't true. There are more new covid cases in the US than ever. Its possible the worldwide cases may have reached a peak but that is a very conservative stance. Even without covid, the company grows NPAT around 12%. The upper end of guidance implies a growth rate of approximately 18%. I am expecting full year growth to come in the low 20s, say $350m NPAT. Very impressive figures there but lets look at how much of that is priced into the SP already.
Current market cap $18.4bn. Even if revenue for this FY is $350m, its trading at a forward PE of 52.5. I would say any peaks in SP today or in the short term will be short lived. I was considering trimming my holding from 155% of portfolio to 12% or so but that the SP is likely to be higher in a year from now so no point doing that. I think any sell downs would be short lived just like spikes. The SP seems to be in a good place right now $28 to $34 NZD is my guess at the trading range for the next few weeks. Low $20s would be an excellent top up opportunity and high 30s would be a good time to trim holding and take a profit (the SP is unlikely to get that high or that low in the coming weeks imo).