I think a PE ratio of about 15 is fair. And while Lynas have flagged increases in production for 2019 to which Fosters have increased EPS from 12 to 17, there is nothing released that I know about to explain an EPS increase to 24c in 2020. Especially given the calculations work on a constant long term average of $48/kg (currently $41/kg).
Not that Lynas won't increase production, their proposed drilling isn't for fun. But it looks more like estimates following trends rather than using actual data in 2020s forecast.
Looking forward to ASX200 inclusion bringing in more broker analysis.
Fosters Stockbroking Report, page-8
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