I wish I had had the foresight to accumulate every time usc75 points out an SP pullback.
In fairness to usc75 though, CCP is currently trading on a 21 forward PE (forecast FY20 EPS is ~150c), which is getting a little frothy. I suspect the reason for that is that the market suspects there's potential for earnings upgrades if CCP acquires PNC or buys some of their assets at distressed seller prices.
I wouldn't be surprised to see an SP drop of 5-10% if CCP does not emerge as PNC's buyer, but a pullback around 10% might represent a good buying opportunity as CCP's forecast growth was looking pretty good before PNC was on the market.
CCP Price at posting:
$31.86 Sentiment: Hold Disclosure: Held
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