I'm not expecting any good news here. I first bought LEI about 4 years ago when it was sold down to $7 after similar profit downgrades. It quickly flew through $20....$30....$40....$50...and then even $60 within 12 months. Is this a similar story unfolding here??? They do have a lot of contracted work in the pipeline and there will be a lot more spending on infrastrucure in Australia. I can't see the mining boom folding any time soon either.
Short-term we may get punished but I still believe there are big profits ahead for LEI. This could be the announcement that releases all the gremlins and sets a platform for some really good returns for the next few years.
LEI Price at posting:
$28.29 Sentiment: LT Buy Disclosure: Held
