In the interests of providing some balance I think a PE of 300 would be exorbitant as I don't think the Australian market would be comfortable paying that sort of premium. However a PE of 100 might be possible esp if rates fall and they continue their earnings growth. Yes it is high but we have some stocks trading on even higher PE's (granted they are mainly tech stocks) but as long as the PEG is less than 1 then I think you can make an argument for it as a fast growing growth stock. I also think many in the market are still sceptical about the stock as it has only been in the last two reporting periods that its ROE has been over 50% so some in the market may want further evidence of its credentials. Just my opinion.
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