totally agree. There are businesses in the asx that I prefer over web. Csl, rmd, Rea, and xro. But every investment you need to evaluate valuation. I think there is massive margin of safety at current share price. From my analysis the sp has been sold off re b2b downgrade with Thomas cook revenue and the Australian consumer not travelling. What I can say is I think the consumer is turning a corner. House prices in Sydney are moving again and banks are lending. I think that side of the businesses will surprise with good 10 per cent growth. The b2b business I think will surprise to the upside of guidance. I think web is keeping the growth estimates as conservative . 22-33 , I think they are still working to a 40 target but even if they fall a little short , let’s say 38 so in November I think total ebitda will be estimated at 170. This year 124. Growth of 46. growth rate 37 per cent. At current sp 10 x ebitda expect pe to re rate
my main message. Not a lot needs to go right for pe expansion. A lot needs to go wrong for pe destruction
WEB Price at posting:
$13.00 Sentiment: Buy Disclosure: Held
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