all aboard!!!!, page-85

Hi FB

I think the Indonesian franchise is the best thing CCL has going for it. Definitely a growth option of some merit.

The Australian market is the big concern though and given this is CCL's largest and most mature market, the high p/e is a concern. It obviously minimises the SP upside.

In short, CCL is still fully priced after two downgrades so maybe not much room for a spectacular return to the $15 level. Maybe not the stock for either longs as a result, or shorters hoping for an immediate further fall.