how low can it go??

When a stock like Brazin with a clean balance sheet starts trading on single digit PE's on reduced profit forecasts it means the stock is cheap... simple as that.

Unless you assume they are going bankrupt (now where near it) then a PE of 6 on the reduced profit forecast is not sustainable even in a bear market.

Look at ADZ which was trading at a PE of just over 5 but they had problems i.e. 450m debt etc.

Just my opinion, but I think BRZ is a buy for the medium term investor.