How sure are you? There doesn't seem to be any rationale with CBA anymore. I could potentially see it go to 30 times earnings and become more expensive than Apple on a forward earnings ratio.
The longer it stays at these lofty prices, the more justification people will provide for why 26 times earning is a good price. Just look at Morningstar, for the past 6 months they rated CBA as 'significantly overvalued'. Now they are pricing CBA at 'fair value'. They simply fudged their own models and thesis to track the price. How many other firms and investors are giving up and bending to the share price, and accepting 3.2% dividend yield a new normal?
I still think people buying at current prices are playing a very dangerous game. New buyers are paying extreme valuations- this is a fact.
CBA Price at posting:
$145.46 Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)