sorry i mean $3.20 to $3.30 is my price target for month's closing price
the next few days might see a lot of buying at prices that could be considered beyond reasonable valuation by some indicators, such as certain comparisons with tabcorp, because of forced buying by index managers
once that is settled it will drift back to more reasonable levels i think
just taking a quick look at fundamentals of tatts, at $3.50 it is: at a higher pe than tabcorp, gives a lower div yield, is 5 times smaller, is not as diversified, holds greater licence risks and tab is run by a talented and capable management while tatt's md has yet to to prove himself
so yeah like u said, assuming my sketchy picture of tatts and tab's fundamentals are roughly on the mark, either tab has to rise or tatts has to fall to make up for the valuation diff
considering all that i reckon that $3.50 is a good price
to sell into
TTS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
