I don't know if I'm being too conservative but I can't see the...

I don't know if I'm being too conservative but I can't see the justification for a share value much above that which has been recently achieved.

As I understand it market capitalisation depends on the price per share. Sma has many millions of shares on issue. In my opinion its market capitalisation already reflects current value plus possible future earnings.

I wouldn't expect the share price to rise much more unless actual (rather than hoped for) growth in income justifies such an increase.

I would suggest therefore that it is not realistic to expect further dramatic increases in share value in the short term.