Overseas Interest in GSW, page-23

I think the instos are still digesting the news and adjusting their risk discount on this.

Remember, GSW still has a retail heavy register. The SA article (and my own calcs) show we are trading at ~80% discount based on the contracts we have signed.

Now, NA Williams is a big contract to swallow, but an ~80% discount is excessive. 50% at this point would be more reasonable. So my sense is $4-5 would be fair value by end of year, and then looking more like $7 by end of next year as revenue starts to flow and execution risk is diminished.

As always, DYOR and GLATH