re: might go back to $10.00
I have no problem with the quality of the ORI business , and take your point regarding p/e etc ....however the fact is the price has soared ! We are now possibly looking at a much more sceptical market . The earnings figure that ORI just produced seems to have been factored into the market , as is their full year earnings guidance . ORI have allways ( and this may change ) purported to be huge in explosives - thats where most of their business is ( geographic spread & resource allocation ) --these earning were very flat .
The market will be watching them extremely closely now .... and I suspect will be ready to drop the stock like a hot potatoe if there is any negative news ( and that disregards the general negative factors surrounding interest rate rises )
I still think $10.00 could happen. - look what happened to LEI - a 20% drop in price in a day ...and the news wasn't that bad .
ORI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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