Servcorp

Servcorp has fallen 12% since we reviewed the stock following its profit warning on 20 May 13 (Hold – $3.50), taking it below the relevant trigger in our price guide, and we’re upgrading to Buy. We’ll write a more detailed review in coming weeks, but the bottom line is that we still have faith in the company’s expansion and expect that to continue to bear fruit. However, the recent profit warning reflects weak revenue growth in the immature business, particularly in Australia, Singapore and Hong Kong. If economic conditions worsened, this situation could get worse – Servcorp is a...

Servcorp has fallen 12% since we reviewed the stock following its profit warning on 20 May 13 (Hold – $3.50), taking it below the relevant trigger in our price guide, and we’re upgrading to Buy.

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