Image by dbgg1979 via FlickrFilinvest Land, Inc.
Recommendation: Buy
FILINVEST LAND, Inc. earned a “buy” tag from brokerage firm Regina Capital Development Corp. given the Gotianun-led developer’s continued expansion.
Last week, Filinvest announced a plan to expand its projects in Cebu City, following the recently launched residential project, Citta Di Mare. The company’s investments and future projects in Cebu would include a business process outsourcing building, hotels and subdivisions.
“Fundamentally, it’s a good buy. It’s trading at a discount with 1.60 book value,” said investment analyst Claire S. Quiray. “Technically, with the current demand, it might break out from P1.32 per share. Next target is at P1.50 and momentum is still rising,” she added.
Filinvest Land shares were last traded at P1.31 apiece.
Elizabeth S. Abadillo, analyst from Angping & Associates Securities, Inc., echoed Ms. Quiray’s view, noting Filinvest’s healthy books and its cheap price.
| Share Price | 1.31 |
| High (past 52 weeks) | 1.31 |
| Low (past 52 weeks) | 0.76 |
| Market Cap. (M) | 31,767.18 |
| 22.11 | |
| Earnings Per Share | 0.08 |
Dionna Fe M. Falamig
September 6, 2010
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