I think people didn't trust the underlying numbers much last time, since there were write-downs at the same time, and cutting the dividend to nothing (suggesting problems rather than improvement).
If this period has no write-downs, then CUP should move towards a regular multiple, since the new strategy would be proving itself as making CUP a reliable company again.
However, I didn't see any news to confirm that write-downs are a thing of the past and the future is more stable.
CUP Price at posting:
76.5¢ Sentiment: Buy Disclosure: Held
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