Having last covered professional services group Fairpoint (FRP) in May, I gave the company a “tentative BUY” rating at 128p. With the shares now sitting at 96p after today’s interim results, investors are clearly unimpressed so far. Should I be sacked?
Shares in Fairpoint (FRP) are off by 10% today to 128p, giving a market cap of £58m, as the market digests a trading statement to accompany today’s AGM. While not entirely straightforward, an investment thesis can be made at this valuation.
It is quite obvious that as far as this Bull Call Of The Day is concerned we are coming relatively late to the party in terms of the extended rally there has been since the beginning of March for shares in Fairpoint Group (FRP). I now suggest a possible upside share price target.









