hey stevenjd,
if you base full year earnings at 28cps as advised today it is not unrealistic to have a P/E multiple of 5 giving a base price target of $1.40, but the fact IPL is one of the few true agricultural plays on the ASX it demands a premium. I would expect after the shorters have finished having their fun in the next couple of days we will see a rally back to between $1.80-$2.00.
for those looking for a trade wait till the sell off in the morning and play the bounce it will be a beauty when the shorters are finished.
market update, page-60
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Last
$2.86 |
Change
-0.020(0.69%) |
Mkt cap ! $5.554B | |||
| Open | High | Low | Value | Volume |
| $2.88 | $2.90 | $2.84 | $10.60M | 3.702M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 81078 | $2.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.88 | 125618 | 4 |
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| Last trade - 16.10pm 06/08/2024 (20 minute delay) ? |
| IPL (ASX) Chart |