Buying back stock st 36.25 at decent volume is great for shareholders. If they buy the remaining of the 10% of the stock targeted in buy back over next 6 months , and they grow earnings by 10% they will effectively will be earning 4 c per share which would mean a SP of
44c at a PE 11
48 at a PE of 12
52 at 13
Add that to a divi of around 5.7-6% and one can generate a very decent total return over the the next 2-3 years
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